My husband and I are planning to acquire a house in Clacton On Sea and have appointed a Clacton On Sea conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Virgin Money have this morning contacted us to advise us that they have now hit a problem as our Clacton On Sea solicitor is not on their approved list of lawyers. What do we do from here?

When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for the purchaser's lender. 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Clacton On Sea lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.

We are planning to purchase with Earl Shilton BS. We have called around locally but am unable to find a Clacton On Sea conveyancing firm on the Earl Shilton BS approved list. Please you assist?

Please do take advantage of the search tool on this web page. Please choose the building society and type Clacton On Sea or your location and you will discover numerous conveyancers located in Clacton On Sea or by proximity to you.

What is different about your site and other internet conveyancing solicitors when it comes to conveyancing in Clacton On Sea?

At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Clacton On Sea. Unlike many estate agents and brokerage sites we do not charge firms a commission if you select them for your property ownership legalities in Clacton On Sea

In relation to leasehold conveyancing in Clacton On Sea what are the most frequent lease defects?

Leasehold conveyancing in Clacton On Sea is not unique. Most leases are individual and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

Insurance obligations A provision for the recovery of money spent for the benefit of another party.

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

I own a 2 bed flat in Clacton On Sea, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Clacton On Sea with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2087

With just 62 years left to run we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

I have just appointed agents to market my basement apartment in Clacton On Sea.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as you normally would because all rents and service charges will be apportionedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially