I hired a local solicitor for our conveyancing in Tiptree today. Upon checking the Terms I seewe are liable for costs even if the sale aborts. Should I go with them or use a web based solicitor practice promising no-sale-no-fee conveyancing in Tiptree?
It is usually a trade off in that if "No Completion No Fee" is offered then the fee levels will tend to be be uplifted to counteract the cases that fail to complete. You should be mindful that such promotions generally do not cover expenses by way of example Tiptree conveyancing search expenses.
My fiance and I wish to acquire a 1 bedroom apartment in Tiptree with a homeloan from Halifax.We like our Tiptree conveyancing practitioner but Halifax informed us her practice is not listed on their "panel". It seems we are left with no choice but to instruct a Halifax panel firm or keep our local solicitor and fork out for a Halifax panel lawyer to represent them. This seems very unfair; Can we not simply insist that Halifax use our lawyer?
No, not really. The loan offered to you contains various provisions, a common one being that conveyancers needs to be on the Halifax solicitor panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Halifax
I'm purchasing my first flat in Tiptree benefiting from help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not disclose to my lawyer about this deal as it may jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
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.
I have been on the look out for a ground for flat up to £195,000 and found one close by in Tiptree I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Tiptree for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Can you provide any top tips for leasehold conveyancing in Tiptree with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Tiptree can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ representatives. If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled. The majority of landlords or managing agents in Tiptree levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Tiptree. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Tiptree state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. If you dont have the approvals in place do not contact the landlord without checking with your conveyancer first.
I am the registered owner of a basement flat in Tiptree, conveyancing was carried out in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Tiptree with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2085
With only 61 years remaining on your lease the likely cost is going to span between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
My wife and I recently become aware that one of the partners of the conveyancing practice acting on the purchase conveyancing in Tiptree is is the sister of the seller. Is this permitted?
On the basis that no conflict arises this should be fine. If you are needing a home loan then the bank may have a say as many lenders have specific requirements concerning this. For example for Chelsea Building Society as of 22/10/2024, the requirements read as follows :
* there is no conflict of interest and none arises during the transaction
* the firm is a partnership
* the conveyancer acting is not the borrower or a member of the borrower's immediate family.