Finally the sale completed on my house in Bletchley last December yet the purchaser is calling every few hours to say their lawyer needs to hear from mysolicitor. What are the post completion sale formalities now that I have sold?
Post completion of your sale your conveyancer should send the transfer deeds and all of the paperwork to the purchaser's lawyers. Where relevant, your conveyancer should also evidence that the home loan has been repaid to the buyers solicitors. There is unlikely to be post completion requirements peculiar conveyancing in Bletchley.
Is it necessary to take out insurance to cover chancel repairs when acquiring a property in Bletchley?
Unless a previous acquisition of the property completed after 12 October 2013 you could take it that lawyers delivering conveyancing in Bletchley to continue to suggest a chancel search and or insurance against a claim.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Bletchley 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 Bletchley for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan that many years will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I am downsizing from my property. My former solicitors closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Bletchley if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Bletchley. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
What advice can you give us when it comes to choosing a Bletchley conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Bletchley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Bletchley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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What are the costs for lease extension work?
I own a studio flat in Bletchley, conveyancing formalities finalised in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Bletchley with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2083
With only 57 years unexpired we estimate the premium for your lease extension to range between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
Fiveweeks into purchasing a residence in Bletchley. Conveyancing lawyer has told us the title is "Leasehold". Will this likely impact the marketability of the property?
Bletchley conveyancing does not in most situations involve leasehold houses. The main consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the value significantly.
On the flip side, if it's, say, fifty five years it will have a material effect on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease to be supplied to your conveyancer.