I require conveyancing for an apartment in a fairly new development (6 years old) in Ditchling. Almost all the appartments have already been disposed of. Do I need carry out the conveyancing searches as part of conveyancing in Ditchling?
If you are purchasing a property with the assistance of a mortgage, your lender will need some (many) of the searches so you'll have no choice. If not, then Ditchling conveyancing searches are for you to decide upon. Your solicitor, will ’encourage’, perhaps strongly, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to find a new lawyer for your conveyancing in Ditchling.
Me and my brother own a semi-detached Georgian property in Ditchling. Conveyancing practitioner represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to review 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 Ditchling 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 practitioner who carried out the work.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Ditchling I like with amenity areas and station nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Ditchling in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension 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 solicitor about this.
How easy is it to use your search tool to select a conveyancing lawyer in Ditchling on the panel for my bank?
First pick a bank such as Nationwide Building Society, Skipton Building Society or Godiva Mortgages Ltd then type in your preferred area for example Ditchling. Conveyancing organisations in Ditchling and nationally will then be listed.
As co-executor for the will of my uncle I am selling a property in Neath but live in Ditchling. My conveyancer (based 235 miles awayrequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Ditchling who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Ditchling
I am attracted to a couple of apartments in Ditchling which have approximately fifty years unexpired on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Ditchling is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and banks, 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 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 Ditchling 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Ditchling Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
How much is the ground rent and service charge? Is the freehold reversion owned jointly by the leaseholders? Who are the managing agents?