It is is a decade since I bought my house in Derbyshire. Conveyancing solicitors have recently been retained on the sale but I am unable to find my title documents. Will this cause complications?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by the lender or they could still be with the solicitor who oversaw the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Derbyshire relates to registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Derbyshire I like with amenity areas and transport links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Derbyshire in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will likely be problematic. Discount the price 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 can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
What does commercial conveyancing in Derbyshire cover?
Derbyshire conveyancing for business premises covers a wide array of advice, offered by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My husband and I are new to the buying process - agreed a price, but the selling agent told us that the seller will only proceed if we use their recommended lawyers as they want a ‘quick sale’. We would rather use a local solicitor who is familiar with conveyancing in Derbyshire
We suspect that the owner is not behind this requirement. Should the seller desire ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Try to communicate with the owners directly and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you intend to instruct your preferred Derbyshire conveyancing solicitors - as opposed tothe ones that will provide the negotiator at the agency a commission or meet his conveyancing thresholds set by corporate headquarters.
Can you offer any advice when it comes to choosing a Derbyshire conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Derbyshire conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Derbyshire conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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If the firm is not ALEP accredited then why not?
I acquired a 1st floor flat in Derbyshire, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Derbyshire with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2082
With only 58 years unexpired we estimate the premium for your lease extension to span between £21,900 and £25,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
I'm remortgaging a house in Derbyshire. I can find my conveyancer's company on the CLC list, but I can't find my lawyer's name on the list. Should I be concerned?
Not every individual in the law firm must be listed by the regulator. Provided there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.