How up to date is your database of Beaminster solicitors on the Bank of Ireland conveyancing panel? Do Bank of Ireland send you an updated list?
Beaminster conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
The deeds to our property can not be found. The lawyers who handled the conveyancing in Beaminster 5 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title original deeds to prove you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
Just had an offer accepted on a new build apartment in Beaminster. 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 legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Beaminster
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan.
Due to the encouragement of my in-laws I had a survey completed on a property in Beaminster prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will refuse to issue a loan on such a premises.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Beaminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Beaminster to see if the conveyancing will be more expensive.
I am attracted to a couple of apartments in Beaminster which have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area.
I own a 1st floor flat in Beaminster, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Beaminster with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2084
With 59 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
What is the distinction between surveying and conveyancing in Beaminster?
Conveyancing - in Beaminster or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for negotiating the purchase price down or asking the seller to remedy the problems prior to you move in.