Is it necessary to pay for insurance to cover chancel repairs when buying a residence in Fenny Stratford?
Unless a previous acquisition of the house took place after 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in Fenny Stratford to continue to recommend a chancel search and or chancel repair liability insurance.
I own a terraced Victorian house in Fenny Stratford. Conveyancing practitioner represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same address. Is it worth asking Nationwide Building Society to clarify?
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fenny Stratford and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
I am buying a new build flat in Fenny Stratford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Fenny Stratford
There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am a sole trader intending to lease a unit on the high street. Can you recommend conveyancers offering no-move-no costs for commercial conveyancing in Fenny Stratford for below £1,200?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Fenny Stratford, including the sale and acquisition of businesses as well as simply property. If you are hoping to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the fees these will vary based on the structure and heads of terms of the deal. Let us have your details or telephone so as to enable us to furnish you with a detailed commercial conveyancing calculation.
I've recently bought a leasehold property in Fenny Stratford. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a ground floor flat in Fenny Stratford, conveyancing formalities finalised in 2006. How much will my lease extension cost? Similar flats in Fenny Stratford with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2095
With just 75 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Can you please explain what options are open to me where my Fenny Stratford conveyancing searches reveals detrimental results?
Usually, the majority of problems that arise in Fenny Stratford conveyancing search responses can be dealt with before completion or title insurance may be obtained. It is important to note that even though you may be buying the property and might be content to accept the search results, your building society or bank may not, and when all said and done have the final decision.