Would the conveyancing practitioners that you recommend perform right to buy conveyancing in Chigwell?
We have identified plenty of conveyancing practitioners carrying out right to buy conveyancing Do call the solicitors listed with a view to obtain a costs illustration.
In what way does my ID and proof of funds have anything to do with my conveyancing in Chigwell? What am I being asked for?
Chigwell conveyancing solicitors and indeed property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to check the identity of any client in order to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Proof of source of monies is also required under the money laundering regulations as solicitors are duty bound to check that the monies you are using to purchase a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has originated from legitimate source (such as an inheritance) as opposed to the product of criminal behaviour.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Chigwell?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Chigwell. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Chigwell differ for newly converted properties?
Most buyers of new build or newly converted property in Chigwell approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Chigwell tend to purchase the real estate, 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 conveyancers 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 Chigwell or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Chigwell is the location of the property. Can you offer any advice?
Flying freeholds in Chigwell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chigwell you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chigwell may ascertain 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 premises.
Do you have any advice for leasehold conveyancing in Chigwell from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Chigwell can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers’ lawyers. The majority of freeholders or managing agents in Chigwell levy fees for supplying management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Chigwell. If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unresolved. You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Some Chigwell leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chigwell. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Chigwell conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Chigwell property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The unexpired residue of the current lease was 69.26 years.