Can you explain why leasehold purchase conveyancing in Chafford Hundred costs more?
The conveyancing costs for a leasehold property in Chafford Hundred is often more expensive than on a freehold residence. This is because there is an amount of extra investigations required in corresponding with the landlord and managing agents to obtain evidence concerning whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
Does a directory service exist listing Bank of Ireland panel solicitors in Chafford Hundred on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings visible online. If you are looking for a Chafford Hundred conveyancer on the Bank of Ireland please make the most of our tool.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Chafford Hundred bank branch on various occasions and was told they are content with the situation and they will lend. My Chafford Hundred conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the bank approved list, they must follow the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being problematic. The Chafford Hundred solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey done on a property in Chafford Hundred before instructing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders may not grant a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chafford Hundred. Conveyancing will be smoother if you use a solicitor in Chafford Hundred especially if they are acquainted with such properties in Chafford Hundred.
I am using a search engine for the phrase on line conveyancing in Chafford Hundred it reveals many conveyancersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for purchase transaction?
The best method of choosing the right conveyancer is through a personal referral, so ask friends and relatives who have acquired a property in Chafford Hundred or a reputable estate agent or mortgage broker. Charges for conveyancing in Chafford Hundred differ, so it's sensible to secure a minimum of four estimates from varying types of law firms. Be sure to obtain confirmation that the fees are fixed.
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Chafford Hundred. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Chafford Hundred ?
Most houses in Chafford Hundred are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Chafford Hundred so you should seriously consider looking for a Chafford Hundred conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
I have had difficulty in trying to purchase the freehold in Chafford Hundred. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension case for a Chafford Hundred property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired residue of the current lease was 76 years.
I acquired a house in Chafford Hundred last 16/11/2023 and to date it is still not registered with HM Land Registry. It is part of a development site and my solicitor told me that it may take 12 months to complete the registration formalities. I have called HMLR directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
get in touch with your solicitor - if you are not getting sensible responses, look up their internal complaints procedure and amplify your problem to a Partner. Registrations for Chafford Hundred conveyancing are not known to be significantly delayed.