four months have elapsed following my purchase conveyancing in Frampton Cotterell took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build apartment in Frampton Cotterell. Conveyancing is a frightening process 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 enquiries that you should expect your new-build leasehold conveyancing in Frampton Cotterell
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Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Frampton Cotterell is the location of the property. Is there any advice you can impart?
Flying freeholds in Frampton Cotterell are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Frampton Cotterell you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Frampton Cotterell may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My cousin has suggested that I use his lawyers for conveyancing in Frampton Cotterell. Do I take his recommendation?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get feedback from friends or family who have previously instructed the conveyancer you're considering.
When it comes to leasehold conveyancing in Frampton Cotterell what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Frampton Cotterell. All leases are individual and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Repairing obligations to or maintain parts of the premises
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.
I am the registered owner of a ground floor flat in Frampton Cotterell, 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? Similar properties in Frampton Cotterell with over 90 years remaining are worth £181,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2075
With 51 years unexpired we estimate the premium for your lease extension to be between £30,400 and £35,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. 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 without first seeking the advice of a professional.
One month into purchasing a house in Frampton Cotterell. Conveyancing solicitor has told us the property is "Leasehold". Will this likely make a difference on our HSBC valuation?
Frampton Cotterell conveyancing does not usually involve leasehold houses. The key consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a nominal rent, it's essentially freehold, so it’s unlikely to impact the marketability too much.
On the flip side, if it's, say, 50 years it is bound to have a adverse effect on the value, and probably wouldn't be acceptable to the lender. The remaining lease term and ground rent will be set out in the lease which should be made available to your property lawyer.