Why do I have to pay up front when it comes to conveyancing in Dover?
Where you are retaining lawyers for conveyancing in Dover your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the sale price then this will be needed shortly ahead of exchange of contracts. The closing balance that is due should be sent to your lawyer shortly before completion.
About to purchase a new build apartment in Dover. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Dover
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I opted to have a survey completed on a property in Dover in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend not give a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dover. Conveyancing will be smoother if you use a solicitor in Dover especially if they regularly deal with such properties in Dover.
I need to retain a conveyancing solicitor for residential conveyancing in Dover. I have land on a web site which looks to be the ideal answer If it is possible to get all this stuff done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two apartments in Dover which have about 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Dover is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers 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 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 Dover 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. 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.
I own a 1 bedroom flat in Dover, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Dover with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2085
With just 60 years unexpired the likely cost is going to span between £20,000 and £23,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
I was advised by my lender that their panel solicitors work on no completion no fee basis for conveyancing in Dover. Our purchase aborted yet the lawyers have requested search fees! They say the fees are seperate!
Dover conveyancing search fees are disbursements not solicitors costs as these are paid to independent parties.