My partner and I are selling our property in Bridport and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Bridport conveyancer would know this is not the case. For the life of me I don't know why the buyers used a web based conveyancing outfit as opposed to a conveyancing solicitor in Bridport. We have lived in Bridport for three years we know of no issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My wife and I own a terraced Victorian house in Bridport. Conveyancing solicitor represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching address. Is it worth asking Nationwide Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridport and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who completed the work.
How does conveyancing in Bridport differ for newly converted properties?
Most buyers of new build premises in Bridport approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Bridport tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bridport or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and identified one close by in Bridport I like with a park and transport links nearby, however it's only got 52 years on the lease. There is not much else in Bridport suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How difficult is it to change solicitor as I have to find a firm on the Britannia conveyancing panel. I had appointed a family conveyancing solicitor in Bridport round the corner but he is not approved by Britannia
It would be our pleasure to help you select a conveyancing solicitor in Bridport on the Britannia panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Bridport. In utilising search facility on this site, you can compare fees for conveyancing solicitors in Bridport and throughout England and Wales.
I am attracted to a couple of apartments in Bridport which have in the region of fifty years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Bridport is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bridport conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Bridport Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
-
On the whole the outlay for major works are not built into the service charges, although a few managing agents in Bridport ask leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for larger works. It is important to be aware whether redecorating or some other significant cost is coming up that will be shared amongst the leasehold owners and will dramatically increase the the maintenance costs or result in a specific invoice. The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the tenants benefit from control and notwithstanding that a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders.