My fiance and I are intent on purchasing residence in Braintree. My property lawyer has never been on on the bank conveyancing panel. Is it possible for me to continue with my Braintree conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You must appoint a conveyancer to complete the legal work required when you take out a loan to purchase your home. The conveyancer will carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is in order. One may appoint a Braintree property lawyer of your choice. Nevertheless, if the solicitor selected is not a member of the mortgage company approved list supplemental costs will arise as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so provided your lawyer has not previously sought membership they should take the chance to apply.
Our lawyer has uncovered a a legal deficiency with the lease for the apartment we are buying in Braintree. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that he must check that the bank is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
What does a local search reveal regarding the property my wife and I purchasing in Braintree?
Braintree conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays an important part in many a Braintree conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
Me and my brother own a semi-detached Victorian house in Braintree. Conveyancing practitioner represented me and The Royal Bank of Scotland. 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 property. I'd like to know for sure, how can I find out??
You need to assess 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 Braintree and other areas of 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 buyers. You can also enquire as to the position with your conveyancing lawyer who carried out the work.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400,000 maisonette in Braintree on Thursday in a week. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Braintree?
Braintree conveyancing on leasehold maisonettes more often than not necessitates the buyer’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled to charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.
I am the registered owner of a 1 bedroom flat in Braintree, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Braintree with an extended lease are worth £222,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2097
You have 71 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
I have been searching for Braintree online conveyancing estimates. Can I be confident that all the Braintree practices that are identified on your website are on the bank conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Braintree conveyancing solicitor being on the mortgage company conveyancing panel is incorrect.