I have been recommended a conveyancing solicitor in Essex. I I would like to check if they are accepted on the Nottingham Building Society conveyancing panel. Can you advise?
You should phone your lawyer and ask them whether they are on the lender panel. Alternatively you can get in touch with Nottingham Building Society who may be able to help.
My father informed me that in purchasing a property in Essex there may be a number of restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Essex which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Essex should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have a mortgage agreed in principle with Virgin Money. Essex conveyancing practitioners have been instructed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money done the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The mortgage over my property is with Kent Reliance for my property in Essex. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance in advance of renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
Should our conveyancer be raising enquiries concerning flooding during the conveyancing in Essex.
Flooding is a growing risk for lawyers dealing with homes in Essex. Some people will buy a property in Essex, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Essex. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer may bring a compensation claim stemming from an inaccurate response. The buyer’s solicitors will also commission an environmental report. This will reveal whether there is a recorded flood risk. If so, additional investigations should be conducted.
How does conveyancing in Essex differ for newly converted properties?
Most buyers of new build property in Essex come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because developers in Essex typically buy 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 Essex or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Essex ahead of instructing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some banks will not grant a mortgage on this type of house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Essex. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just started marketing my ground floor flat in Essex. Conveyancing is yet to be initiated, but I have recently had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would given that all ground rent and service payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Essex - Sample of Queries Prior to Purchasing
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Make sure you find out if there are any onerous prohibitions in the lease. For instance it is reasonably common in Essex leases that pets are not allowed in certain buildings in Essex. If you love the propertyin Essex but your cat is not allowed to live with you then you will be presented with a hard choice. Best to be warned if window replacement or some other significant cost is due in the foreseeable future to be shared by the tenants and will materially increase the the service fees or result in a specific payment. This information is useful as a) areas may cause problems for the building as the communal areas may start to deteriorate where maintenance are not paid for b) if the tenants have a dispute with the running of the building you will want to have all the details