Why is leasehold purchase conveyancing in Chase Side costs more?
Chase Side leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am helping my niece sell her property in Chase Side. Will the conveyancer arrange the EPC or should I organise this?
Following the demise of HIPs, EPC’s was maintained a compulsory part of moving house. An energy assessment must be commissioned in advance of the property being marketed. This is not something that lawyers ordinarily arrange. If you are using a Chase Side conveyancing solicitor they may be able to arrange energy performance certificates given their contacts with reputable local assessors
I happen to be the single beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Chase Side. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the house. I do know about the CML 6 month 'rule', meaning my proprietorship will be treated the same way as if I'd bought the house in August. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view lenders take of it, depend on the mortgage company as this requirement is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of property.
We expect to receive a AIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Chase Side solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Chase Side solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Me and my brother have a renovated Georgian house in Chase Side. Conveyancing lawyer acted for me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to 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 Chase Side and other locations in 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 purchasers. You can also question the situation with the conveyancing lawyer who conducted the purchase.
How does conveyancing in Chase Side differ for new build properties?
Most buyers of new build or newly converted property in Chase Side come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because developers in Chase Side typically purchase the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Chase Side or who has acted in the same development.
I am a sole trader looking to lease a unit on a shopping parade. Can you recommend conveyancers offering competitive charges for non-domestic conveyancing in Chase Side for under £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Chase Side, including the disposal and acquisition of businesses as well as simply property. Whether you are looking to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. Regarding the costs this will depend on the structure and terms of the deal. Please provide us with your contact information or telephone so as to enable us to provide you with a fixed commercial conveyancing quote.
I am looking at a two apartments in Chase Side both have about 50 years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Chase Side is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. 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 residence 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 Chase Side conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.
I inherited a two-bedroom flat in Chase Side. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Chase Side premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The remaining number of years on the lease was 70.31 years.