My partner and I are hoping to purchase a flat in Basildon and have appointed a Basildon conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Coventry Building Society have this morning contacted us to inform me that they have now hit a problem as our Basildon conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Basildon lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Basildon?
There are many recorded licenced Conveyancers in Basildon and Solicitor firms in Basildon to choose from We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. Both can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I just bought a house at auction in Basildon. Conveyancing is required. What is next?
Given that you have now exchanged you now have to retain a conveyancing solicitor soon as you are facing a pending a drop dead date to complete the deal. An auction property should have an associated legal pack. This will likely include most,if not all of the paperwork that your conveyancer will need. If you have purchased leasehold premises the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You must hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
We are planning to move home in March. Will my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you put forward a removal company in Basildon. Conveyancing lawyer was organised before I stumbled across this site.
On the day of completion you will need to pick up the house keys from your selling agent however this should only take place when the vendors solicitors inform the agent that the monies to complete are in and the keys can be released. You can advise the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal company but can assist you in locating a conveyancing in Basildon or a legal practice with expertise in conveyancing in Basildon.
The deeds to my home can not be found. The lawyers who handled the conveyancing in Basildon 10 years ago are no longer around. Will I be able to sell the house?
As long as the title is registered the details of your ownership will be retained by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, identify your house and secure up to date copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Basildon. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Basildon ?
The majority of houses in Basildon are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Basildon in which case you should be looking for a Basildon conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.
I am the registered owner of a leasehold flat in Basildon, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Basildon with a long lease are worth £222,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2096
With only 71 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" 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 detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
Me and my wife have agreed a price on a Basildon apartment we inherited six years ago in 2009. I have over a decades worth of conveyancing know-how and, now retired, intend to conduct my own conveyancing. The purchaser's property lawyer has informed me that their building society will not allow you to do your own conveyancing insisting the funds to be released via a solicitor's bank account.
Mortgage instructions to conveyancers from all CML members specify that If the vendor does not have legal representation the borrower's lawyers should check whether the lender needs to be informed so that a decision can be reached as to whether or not they are prepared to proceed.