Do all mortgage companies provide you with an approved list of Maldon conveyancing solicitors? How do you know who is on the conveyancing panel?

Maldon conveyancing firms themselves provide us confirmation that they are on the conveyancing panel as opposed to being supplied with a list from directly.

What is the difference between a licensed conveyancer and conveyancing solicitor in Maldon

There are many recorded licenced Conveyancers in Maldon and Solicitor practices in Maldon who can assist with your conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

My father informed me that in purchasing a property in Maldon there could be a number of restrictions preventing external alterations to the property. Is this right?

We are aware of a number of properties in Maldon which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Maldon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

We had instructed conveyancers with offices in Maldon on the solicitor panel. They have just invoiced me a separate sum for dealing with the mortgage. Is this a supplemental conveyancing fee set by ?

Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your can levy a fee for this. The fee is not set by but by your Maldon . Some firms on the panel will charge ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.

I'm converting the mortgage on my primary house to a buy to let mortgage with and I will use the ballance of the raised equity towards further house. The location we are interested in is Maldon. Will your solicitors be able to act for the two mortgage companies and link together the two deals?

Do use our comparison tool on this site to ensure that the lawyers are on the appropriate lender panels. On the basis that they are the solicitor will be able to tie up the two transactions but you should have a chat with you lawyer and specify your expectations and needs.

Am I best advised to instruct a Maldon conveyancing lawyer based in the vicinity that I am buying? I have an old university friend who can deal with the conveyancing but his firm is located a couple of hundredmiles away.

The benefit of a high street Maldon conveyancing practice is that you can visit the firm to execute documents, hand in your identification documents and pester them if necessary. They will also have local intelligence which is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that must outweigh using an unknown Maldon conveyancing lawyer just because they are Maldon based.

I am tempted by the attractive purchase price for a couple of apartments in Maldon both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Maldon is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Maldon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 inherited a ground floor flat in Maldon, conveyancing was carried out in 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Maldon with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 50

You have 50 years unexpired we estimate the premium for your lease extension to be between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.