Can you explain why leasehold purchase conveyancing in Braintree is more expensive?
In short, leasehold conveyancing in Braintree and elsewhere usually warrants more hours of investigation compared to freehold transactions. This includes lease investigation, liaising with the landlord about the service of applicable notices, securing current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
My lawyer in Braintree is not on the Virgin Money Conveyancing Panel. Can I still use my family solicitor notwithstanding that they are not on the Virgin Money panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Braintree solicitors but Virgin Money will need to retain a lawyer on their panel. This will result in additional overall conveyancing fees as well as result in frustration.
- Find a new solicitor to act in the purchase, remembering to check they are Virgin Money approved.
- Persuade your Virgin Money solicitor to seek to join the Virgin Money panel
Forgive me if this question is silly but I am unseasoned as a first time buyer of a ground floor flat in Braintree. Do I pick up the keys to the property on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Braintree?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's lawyers, and shortly after the monies have arrived, you should be invited to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
Two weeks ago we had a mortgage agreed in principle with Lloyds. Braintree conveyancing solicitors are chosen. How long does it take for Lloyds to forward the offer to the property lawyer?
Some lenders take longer than others. Have Lloyds done the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Our sealed bid on a semi in Braintree has been accepted, but there is a chain. The sellers have placed an offer on on an apartment, but it’s not yet agreed to, and have viewings of other flats booked. I have selected a bricks and mortar conveyancing solicitor in Braintree. What should be my next step? When should I get the mortgage application with TSB going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, Braintree conveyancing search costs, etc). First, you should check that your solicitor is on the TSB conveyancing panel. Concerning the next stages this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. During a buoyant market many purchasers would apply for the mortgage with TSB and arrange for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in Braintree.
The deeds to my property are lost. The solicitors who handled the conveyancing in Braintree 10 years ago are no longer around. What do I do?
Gone are the days when you need to hold title deeds to establish that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
What is different about your site and other web based conveyancing solicitors when it comes to conveyancing in Braintree?
At this site obtain a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Braintree. As opposed to estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Many agents and online brokers 'recommend' the firm that pays the highest commission, as opposed to the best value conveyancing in Braintree
Are there frequently found defects that you come across in leases for Braintree properties?
There is nothing unique about leasehold conveyancing in Braintree. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain parts of the property
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.
Braintree Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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Generally speaking the cost for major works are not included within maintenance charges, albeit that there some managing agents in Braintree require leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for major works. Best to be warned if window replacement or some other significant cost is coming up to be shared by the tenants and may well dramatically impact the level of the maintenance fees or require a specific payment. How is the lease structured?