When reading mumsnet.com for an affordable lawyer in Shenfield, most comment that I should use a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's leading lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Shenfield is one of the many areas of the UK where there are Accredited solicitors.
Various online forums that I have frequented warn that are the number one reason for stalling in Shenfield house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Shenfield.
three months have elapsed since my purchase conveyancing in Shenfield took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Shenfield differ for new build properties?
Most buyers of new build property in Shenfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is built. This is because builders in Shenfield tend to acquire 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 conveyancers 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 Shenfield or who has acted in the same development.
I was recommended by three or four local selling agents in Shenfield to choose a property lawyer on your site. Is there a financial upside for Estate Agents to market your services over and above a competitor’s?
We don’t offer any financial incentive for directing people in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am hoping to complete next month on a leasehold property in Shenfield. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Shenfield should include some of the following:
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Repair and maintenance of the property It needs to be made clear to you whether the lease allows you to change or improve aspects of the premises- you must be made aware as to whether it applies to all alterations or just structural alteration, and whether permission is required What options are open to you if an adjoining owner is in violation of a provision in their lease? The physical extent of the premises. This may be the property itself but could also incorporate a roof space or cellar if applicable. if lease provides for a slush account for major works?
Leasehold Conveyancing in Shenfield - Examples of Queries Prior to Purchasing
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How is the lease structured? Please note that where the lease has less than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering what this will be. Remember, in most cases you will be be obliged to have been the owner of the residence for a couple of years in order to be legally able to exercise a lease extension. The answer will be helpful as a) areas may cause problems in the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will wish to have complete disclosure