In the event thatI was to purchase a straightforward housein Mersea Island mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Mersea Island?
Any savings you would make would be limited to the Mersea Island conveyancing searches. Your property lawyer still be obliged to do everything else - money laundering, communicating with the vendors conveyancer, stamp duty submission, register the property etc. You might save a bit for them not needing to register a charge however it won't be meaningful.
We are buying a property in Mersea Island. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Mersea Island conveyancing solicitors on the Skipton conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Skipton conveyancing panel they would need to be governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
I currently have a mortgage with Yorkshire BS for my property in Mersea Island. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval prior to letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel solicitor.
A relative suggested that where I am purchasing in Mersea Island I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Mersea Island conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Mersea Island around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Mersea Island Education with plans and statistics, Local Amenities and other useful information about Mersea Island.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Mersea Island?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Mersea Island. 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…’
I am purchasing my first flat in Mersea Island with a loan from The Royal Bank of Scotland. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not disclose to my solicitor about the extras as it could affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Mersea Island and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial tenants, granting the right to apply to court for a new tenancy and remain in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Mersea Island