My wife and I are nearing an exchange on a property in Rayleigh and my parents have sent the 10% deposit to my property lawyer. I am now told that as the deposit has not arrived from me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your lawyer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
About to place an offer on a leasehold flat in Rayleigh. The selling agents say that it is standard for flats in Rayleigh to have less than 75 years left on the lease. I am taking out a mortgage with Bank of Ireland. Will the property be mortgageable given that the lease has 70 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/5/2025 the requirements read as follows :
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Rayleigh is where the house is located. Can you shed any light on this issue?
Flying freeholds in Rayleigh are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rayleigh you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rayleigh 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 residence.
As co-executor for the will of my grandfather I am selling a house in Monmouth but I am based in Rayleigh. My lawyer (who is 300 miles awayhas requested that I sign a stat dec before completion. Can you recommend a conveyancing practitioner in Rayleigh who can witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Rayleigh based
Do you have any top tips for leasehold conveyancing in Rayleigh from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Rayleigh can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives. If you hold a share in a the Management Company, you should make sure that you have the original share document. Obtaining a new share certificate can be a lengthy process and delays many a Rayleigh conveyancing transaction. If a reissued share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later. The majority of freeholders or Management Companies in Rayleigh charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Rayleigh. You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Some Rayleigh leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I acquired a 1st floor flat in Rayleigh, conveyancing formalities finalised in 2009. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Rayleigh with an extended lease are worth £265,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2101
With 76 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
I have finally had an offer on an flat in Rayleigh agreed to, the seller does however have an associated purchase. The owners have put an offer on somewhere, although it’s not yet agreed to, and has viewings of other properties in the pipeline. I have instructed a local conveyancing solicitor in Rayleigh. What do I do now? At what point should I apply for the mortgage with Lloyds?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then valuation, Rayleigh conveyancing search fees, etc). First, you should check that your conveyancer is on the Lloyds conveyancing panel. Concerning the next phase this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a rising market many purchasers would apply for a home loan with Lloyds and pay for the survey and only if it comes back ok would they ask their lawyer to press on with the conveyancing in Rayleigh.