Why is leasehold purchase conveyancing in Langley is more expensive?
The conveyancing costs for a leasehold premises in Langley is frequently more expensive as compared to a freehold transaction. This is due to the supplemental investigations required in corresponding with the freeholder and management company to collate the evidence about whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
Are there restrictive covenants that are commonly identified as part of conveyancing in Langley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Langley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Langley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Langley
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey done on a house in Langley prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will not issue a mortgage on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Langley. Conveyancing may be slightly more expensive based on your lender's requirements.
We're new on the property ladder - had an offer accepted, yet the estate agent told us that the vendor will only issue a contract if we appoint their recommended solicitors as they need a ‘quick sale’. We would rather use a family solicitor used to conveyancing in Langley
We suspect that the seller is not behind this request. If they want ‘a quick sale', turning down a genuine purchaser is counter productive. Bypass the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your own,trusted Langley conveyancing lawyers - not the ones that will give their estate agent a kickback or hit his conveyancing figures pre-set by corporate headquarters.
I only have Sixty One years left on my lease in Langley. I now want to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. For most situations a specialist may be helpful to conduct investigations and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Langley.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Langley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Langley conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Langley property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term was 69 years.