I am purchasing a new build apartment in Sawbridgeworth and my conveyancer is informing me that she has to the bank to reveal incentives from the developer. I am nearing the developer’s deadline to sign contracts and I don't want to prolong matters. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

Why is leasehold purchase conveyancing in Sawbridgeworth costs more?

Sawbridgeworth leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

What is the optimum way to discover of the solicitor handling my conveyancing in Sawbridgeworth is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus spending £175.00 in another set of conveyancing costs.

Feel free to make use of the search tool on this web page. Pick the lender and type ‘Sawbridgeworth’ or your preferred area and you will discover a number of lawyer located in Sawbridgeworth or nearest you.

I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Sawbridgeworth I like with a park and station nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Sawbridgeworth suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.

Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Sawbridgeworth. I am keen to extend my lease but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. In some cases a specialist may be useful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Sawbridgeworth.

I acquired a ground floor flat in Sawbridgeworth, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Sawbridgeworth with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2088

With just 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.