My Writtle lawyer has discovered a discrepancy when comparing the assumptions in the home valuation report and what is revealed within the legal papers for the property. My solicitor informs me that he must check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?

Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

How does conveyancing in Writtle differ for new build properties?

Most buyers of new build residence in Writtle approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Writtle usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Writtle or who has acted in the same development.

I have been on the look out for a ground for flat up to £305k and identified one close by in Writtle I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. There is not much else in Writtle for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you need a home loan that many years will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.

Due to sign contracts shortly on a ground floor flat in Writtle. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Writtle should include some of the following:

Additions to the flat You would want to be sent a copy of the lease What you can do if an adjoining owner is in violation of a provision in their lease? The unexpired lease term. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark if lease caters for for a sinking fund?

Leasehold Conveyancing in Writtle - Examples of Queries Prior to Purchasing

The prefered form of lease structure is if the freehold interest is in the ownership of the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is usually retained where it is bigger than a house conversion, the managing agent is directed by the tenants. You should be aware if it is no more than eighty years it will affect the marketability of the flat. Check with your bank that they are content with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this will be. For most Writtlelease extensions you would need to own the residence for two years in order to be legally able to extend the lease. How is the lease structured?

We have been told by various family members to expect six to eight weeks for Writtle conveyancing to complete.This was a month ago. The draft contract was only sent from the vendors conveyancing practitioner a few days ago so now does it countdown?

You need to be realistic about timescales. Moving home in Writtle takes on average about ten weeks. This time period is not because property lawyer are slow and deliberately delay matters. The level of money involved in purchasing any residence is so high, the buyer’s property lawyer having to raise a wide range of queries, searches and other checks to protect the buyer and their mortgage company (if there is to be a home loan) from expensive, avoidable problems. Conveyancing in Writtle involves obtaining information from a range of different parties, for example other conveyancing practitioner, local councils, private companies, mortgage companies. Many of these are well organised. Plenty are not. It is worth noting that, no matter how quickly your conveyancing practitioner do their job, if the people you are buying from or are selling to aren't ready, nothing can move forward until they are.