We hired a high street firm for my conveyancing in Thurrock yesterday. Looking through the terms of engagement I notewe are responsible for fees even if the sale doesn't happen. Would I be best advised to use an on-line firm offering no-sale-no-fee conveyancing in Thurrock?
It is usually a trade off in that if "No Completion No Fee" is available then the fee levels will generally be uplifted to neutralise the transactions that abort. You should be mindful that such schemes rarely cover disbursements for example Thurrock conveyancing search costs.
My son is about to exchange on a newly built flat in Thurrock with a mortgage from Santander. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are looking to buy a house and require a conveyancing solicitor in Thurrock who is on the Leeds Building Society solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Thurrock.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Thurrock?
Its becoming the norm that commercial conveyancing solicitors in Thurrock will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Thurrock. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Thurrock.
For each commercial conveyancing transaction in Thurrock it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Thurrock commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Thurrock.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Thurrock is where the house is located. Can you offer any assistance?
Flying freeholds in Thurrock are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thurrock you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thurrock may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am tempted by the attractive purchase price for a couple of flats in Thurrock which have about forty five years unexpired on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Thurrock is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Thurrock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Thurrock Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
Make sure you enquire if there are any onerous restrictions in the lease. For instance it is reasonably common in Thurrock leases that pets are not permitted in certain buildings in Thurrock. If you love the apartmentin Thurrock however your dog can’t make the move with you then you will be presented with a hard decision. What is the annual maintenance fee and ground rent? Where a Thurrock lease has no more than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your mortgage company that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would be be obliged to have owned the residence for 24 months in order to be legally able to carry out a lease extension.