Would the conveyancing practitioners that you recommend carry out auction conveyancing in Colchester?
We know of a number of niche practitioners we can connect you with those specialising in auction conveyancing. Colchester is one of hundreds of areas of where our lawyers are based.
I am buying a flat and require a conveyancing solicitor in Colchester who is on the Nottingham Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Colchester. We dont recommend any particular firm.
I have been told that property searches are a common reason for hinderance in Colchester conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Colchester.
How does conveyancing in Colchester differ for new build properties?
Most buyers of new build property in Colchester contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because developers in Colchester usually purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Colchester or who has acted in the same development.
I am attracted to a two flats in Colchester both have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
I own a 2 bed flat in Colchester, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Colchester with an extended lease are worth £195,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2089
You have 63 years remaining on your lease we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt 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 before getting professional advice.
I have today placed an offer on a leasehold flat in Colchester and the broker that we are using suggested his property lawyer. They quoted £800 including VAT and 3rd party costs. Does this sound reasonable?
Don't just go on a single quote. You should seek like-for-like quotes for your conveyancing in Colchester. Then select one that you trust and crucially, is on the approved list of the bank that you are sourcing your mortgage from.