We note that you have a search directory listing firms on the Bank of Ireland conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Writtle?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Writtle.
Various internet forums that I have come across warn that are a common reason for delay in Writtle conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Writtle.
Due to the input of my in-laws I had a survey completed on a property in Writtle in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks tend not grant a loan on such a property.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Writtle. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been sourcing a conveyancing solicitor in Writtle for my home move. Is there any facility to review a firm’s complaints history with the legal regulator?
Members of the public can find documented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor call for training purposes.
I am looking at a couple of flats in Writtle which have about fifty years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Writtle is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Writtle conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a 2 bed flat in Writtle, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Writtle with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2097
You have 71 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
What if there is a problem with one of the searches for our conveyancing in Writtle?
Usually, almost all issues arising from Writtle conveyancing search responses can be dealt with in advance of completion or title insurance could possibly be taken. It is important to note that regardless of the fact that you intend on purchasing the property and may be willing to live with the search results, your lender may not, and when all said and done they have the word say.