I require conveyancing for an apartment in a relatively new development (five years built) in Kelvedon. The vast majority the properties have already been disposed of. Do I need carry out the local searches as part of conveyancing in Kelvedon?
You are taking a significant risk in failing carrying out Kelvedon conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in the strongest possible terms that your solicitor conducts them. Where timings and cost are primary issues you should consider with your solicitor about the options such as contingency insurance available to you
My aunt informed me that in purchasing a property in Kelvedon there could be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Kelvedon which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Kelvedon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you help - my lawyer says that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Kelvedon?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I happen to be the single beneficiary of my late father’s estate and I have everything in my name now, including the house in Kelvedon. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. Most lenders would take a sensible view as this clause principally exists to pick up on subsales or the quick reselling of property.
How does conveyancing in Kelvedon differ for newly converted properties?
Most buyers of new build property in Kelvedon come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Kelvedon tend to 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 conveyancing solicitors 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 Kelvedon or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Kelvedon is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kelvedon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kelvedon you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kelvedon may determine 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 property.
Given that I am about to part with 450k on a house in Kelvedon I would like to have a conversation with the lawyer about mytransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your property ownership legalities in Kelvedon.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Kelvedon should be the figure that you are charged.
I've recently bought a leasehold property in Kelvedon. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a garden flat in Kelvedon, conveyancing formalities finalised July 2001. Can you work out an approximate cost of a lease extension? Similar flats in Kelvedon with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2094
With only 68 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.