My wife and I have just purchased a property in Broughton Astley. We have since encountered a number of issues with the property which we consider were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that needed to have been ordered for conveyancing in Broughton Astley?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Broughton Astley. Conveyancing searches and due diligence undertaken during the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a form called a Seller’s Property Information Form. answers ends up being misleading, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Broughton Astley.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who did the conveyancing in Broughton Astley 4 years ago have long since closed. What do I do?
Assuming the title is registered the information relating to your proprietorship will be recorded by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, find your property and get up to date copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will also normally hold a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Broughton Astley I like with open areas and railway links nearby, however it only has 52 years on the lease. There is not much else in Broughton Astley in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I am a sole trader planning to lease a unit on the high street. Can you recommend solicitors offering fixed costs for non-domestic conveyancing in Broughton Astley for below £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Broughton Astley, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right lawyer. As for the costs this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or call us so that we can supply you with a detailed commercial conveyancing calculation.
Having had my offer accepted I require leasehold conveyancing in Broughton Astley. Before I get started I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Broughton Astley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a leasehold flat in Broughton Astley, conveyancing having been completed February 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Broughton Astley with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2099
With 77 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
What is the reason for my solicitor requiring numerous items of identification before I can commence with selling or buying a property in Broughton Astley?
Broughton Astley conveyancing practitioners are required by the Law Society, SRA, HM Land Registry and current AML legislation to record that the have verified the identity of their clients. It is also sometimes a requirement of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and DOB.