I am purchasing property in Maldon. My Solicitor is not listed on the bank solicitor list. Can I still retain my Maldon conveyancing solicitor even though they are not on the lender list of approved lawyers?
You have a couple of alternatives available to you here
- Complete the purchase with your existing Maldon lawyer but your bank will undoubtedly appoint a solicitor on their conveyancing panel. The net result is additional charges together with probable frustration.
- Get a new property lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your conveyancer to seek to join the bank panel
At what point does exchange of contracts happen for purchase conveyancing in Maldon and do I need to be at the lawyers branch?
Where you are local to our conveyancing solicitors in Maldon you are welcome to attend to sign contracts. That being said, the firms we recommend supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The executing of the contract is not the critical part. A signed contract simply enables the solicitor to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Maldon)to be in the office at the appropriate time.
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Darlington Building Society conveyancing panel for example in Maldon?
We are not aware of any intention on the part of the BSA to promote such a search facility.
We are planning to move house in May. Should my conveyancing solicitor communicate with the removal company on the completion day. On a separate note, can you recommend a removal company in Maldon. Conveyancing solicitor was organised prior to coming across your site.
On the day of completion you can pick up the keys from your estate agent but this should only occur once the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You should tell the removal men that they can start moving you in. We are not in a position to suggest a particular removal company but can help you choose a residential property solicitor in Maldon or a solicitor with expertise in conveyancing in Maldon.
My wife and I have arranged a further advance on our mortgage from RBS as we want to carry out alterations to our home in Maldon. Do we need to choose a bricks and mortar Maldon solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS would not normally require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I am expecting a OIP from TSB this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Maldon solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Maldon solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I have just appointed agents to market my ground floor flat in Maldon. Conveyancing is yet to be initiated, but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as usual as all ground rent and maintenance payments should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies 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.
I acquired a basement flat in Maldon, conveyancing formalities finalised May 1998. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Maldon with a long lease are worth £222,000. The ground rent is £50 per annum. The lease runs out on 21st October 2095
With just 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
We own a leasehold flat in Maldon. Conveyancing was finalised in last year. I have heard that I mustn’t let the lease length fall too low. Is this right?
Maldon domestic long term leases are for a prescribed period - often 99 years when they commenced. However many flats in Maldon were constructed or converted in the 60’s and so these leases now have less than 80 years left to run. That may sound like a long time but Banks, Building Societies and other mortgage companies on the whole require leases to have a minimum of seventy five years left to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are getting close to seventy five years. To maximise the saleability of your property you should be thinking about whether to extend your lease long before you come to sell it. Please note that there are strong financial reasons to taking action before the lease hits eighty years as when the lease is below 80 years the premium to be paid to extend starts to increase.