I need some fast conveyancing in Blaina as I am under pressure to complete in less than 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you are at free not to have searches conducted although no law firm would advise that you don't. Drawing on our experience of conveyancing in Blaina the following are instances of what can be revealed and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I own a terraced Victorian property in Blaina. Conveyancing lawyer acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blaina and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
I am looking for a flat up to £235,500 and found one close by in Blaina I like with amenity areas and railway links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Blaina suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I have been advised by a few estate agents in Blaina to choose a conveyancer on your site. Is there a financial incentive for Estate Agents to offer your services over and above a competitor’s?
We refuse to offer any referral fee for directing people to this site. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
My husband and I are new on the property ladder - agreed a price, but the property agent has warned us that the seller will only proceed if we use the agent's preferred lawyers as they need a ‘quick sale’. We would rather use a family conveyancer used to conveyancing in Blaina
It is unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Contact the sellers directly and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your own,trusted Blaina conveyancing lawyers - not the ones that will provide the estate agent a referral fee or achieve conveyancing thresholds set by head office.
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Blaina. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Blaina are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Blaina in which case you should be shopping around for a Blaina conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
I acquired a split level flat in Blaina, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Blaina with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2078
With only 52 years unexpired the likely cost is going to span between £29,500 and £34,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.