I am buying a house without a mortgage in Southend On Sea. I have been residing for the last 15 years in Southend On Sea. Conveyancing searches are exorbitant. As I have knowledge of the area and road very well must I have all the conveyancing searches?
If you not getting a mortgage, then almost all of the Southend On Sea conveyancing searches are at your discretion. Your solicitor will try and sway you, perhaps strongly, that you should have searches done, but he has a professional duty to do this. One thing to consider; if you are going to sell the house in the future, it may be of relevance to your future buyer what the searches contain. On occasion premises with functional issues can still show up unpredicted search results. A good conveyancing solicitor in Southend On Sea will provide you some sensible guidance in this regard.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to instruct a specialised conveyancing solicitor in Southend On Sea?
You should check but the the probability is that appoint one of their panel lawyers where you accept the "fee-free" incentive. Call the lender and determine if they make available a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Southend On Sea.
Me and my brother purchased a terraced Victorian house in Southend On Sea. Conveyancing practitioner acted for me and Nationwide Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking Nationwide Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southend On Sea and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the purchase.
How does conveyancing in Southend On Sea differ for newly converted properties?
Most buyers of new build or newly converted property in Southend On Sea approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Southend On Sea typically 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 property lawyers 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 Southend On Sea or who has acted in the same development.
My step-father has suggested that I use his lawyers for conveyancing in Southend On Sea. Should I find my own solicitor?
No doubt the best way to find a conveyancing solicitor is to seek recommendations from friends or family who have actually used the firm you're contemplating using.
My fiance and I may need to rent out our Southend On Sea garden flat temporarily due to a career opportunity. We instructed a Southend On Sea conveyancing firm in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Southend On Sea do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I inherited a basement flat in Southend On Sea, conveyancing formalities finalised in 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Southend On Sea with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2081
You have 55 years unexpired we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.