Is there a reason why leasehold purchase conveyancing in Great Barford is more expensive?
The conveyancing charges for a leasehold premises in Great Barford is inevitably greater when contrasted to a freehold transaction. This is because there is an amount of supplemental work necessary in dealing with the freeholder and managing agents to obtain evidence about whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a ground floor flat in Great Barford. Do I pick up the keys to the premises on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Great Barford?
On the day of completion you will not be required to go to the conveyancers office in Great Barford. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am buying a end of terrace house in Great Barford. Our aim is to carry out a loft conversion at the property.Will legal work on the property involve checks to see if these alterations are allowed?
Your solicitor will review the deeds as conveyancing in Great Barford can on occasion reveal restrictions in the title documents which prevent categories of changes or require the consent of another owner. Certain extensions require local authority planning permissions and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
We had selected conveyancing lawyers located in Great Barford on the Santander solicitor approved list. They have just invoiced me a separate sum for dealing with the Santander mortgage. Is this an additional conveyancing fee set by Santander?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not dictated by Santander but by your Great Barford solicitor. Plenty of firms on the Santander panel will quote an ‘acting for lender’ fee and others do not.
A friend recommended that where I am buying in Great Barford I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Great Barford conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Great Barford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Great Barford Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Great Barford Education with maps and statistics, Local Amenities and other useful information regarding Great Barford.
It has been five months following my purchase conveyancing in Great Barford completed. I have checked the Land Registry website 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 premises 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.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Great Barford I like with a park and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Great Barford in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I am attracted to a couple of maisonettes in Great Barford both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Great Barford. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorates and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena.
Great Barford Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
Is anyone aware of any major works in the planning that could add a premium to the maintenance fees? On the whole the outlay for major works are not wrapped into the service charges, albeit that a few managing agents in Great Barford ask leaseholders to contribute towards a sinking fund and this is used to offset against larger works. The answer will be useful as a) areas can result in problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to have full disclosure