It is is a decade since I bought my home in Basildon. Conveyancing lawyers have recently been appointed on the sale but I can't track down my deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by your lender or they may be in the possession of the solicitor who oversaw your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Basildon involves registered property but in the rare situation where your home is not registered it is more problematic but is not insurmountable.
Is it correct that all Basildon CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing panel?
Some major banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
Two weeks ago we had a mortgage agreed in principle with Barclays. Basildon conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Barclays?
There is no definitive answer here. Have Barclays conducted the survey? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are in the throws of looking at houses in Basildon and I am about to put in an offer. Should I already have a solicitor appointed at this stage? I am planning to take a mortgage with Santander.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
My wife and I own a semi-detached Edwardian property in Basildon. Conveyancing solicitor acted for me and TSB. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Basildon and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Basildon differ for new build properties?
Most buyers of new build or newly converted property in Basildon come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because developers in Basildon usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Basildon or who has acted in the same development.
Do I need to be suspicious that brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Basildon conveyancing company?
As is the case with lots of service providers, often referrals from relatives can be very helpful. Nevertheless there are lots of parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and lenders may suggest solicitors to retain. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You are at liberty to select your preferred lawyer. However, bear in mind that the majority of lenders operate an approved list of lawyers you have to use for the mortgage related work in your house move.
I am attracted to a couple of maisonettes in Basildon both have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Basildon. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Basildon - Examples of Queries Prior to buying
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Does the lease have onerous restrictions? The answer will be important as a) areas can result in problems for the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will want to have all the details What is the yearly service fee and ground rent?