I am need of leasehold conveyancing for an apartment in a fairly new development (five years built) in Greenfield. 95% of the appartments have already been sold. Is it really necessary to order local searches for my conveyancing in Greenfield?
You are opening yourself up to an unnecessary risk in failing carrying out Greenfield conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would strongly advise in no uncertain terms that you have them. Where accelerating the process and cost are primary concerns you should consider with your lawyer about the possibility of search insurance
What is the difference between a licensed conveyancer and conveyancing solicitor in Greenfield
There are many registered licenced Conveyancers in Greenfield and Solicitor practices in Greenfield who can help with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I happen to be the only beneficiary of my late mum's estate and I have everything in my name alone, including the house in Greenfield. The Greenfield property was put into my name in June. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the house in June. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Some mortgage companies would take a sensible view as this clause is principally there to pick up on the purchase and immediately sell or the flipping of properties.
We had chosen solicitors with offices in Greenfield on the Coventry BS solicitor approved list. They are now charging me an additional fee for dealing with the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. This charge is not set by Coventry BS but by your Greenfield lawyer. Numerous firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
I used Arc property Solicitors a few years ago for my conveyancing in Greenfield. Now, I need the documents however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Greenfield of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
What does commercial conveyancing in Greenfield cover?
Greenfield conveyancing for business premises incorporates a wide array of guidance, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am attracted to a couple of maisonettes in Greenfield which have in the region of 50 years unexpired on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in Greenfield is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and lenders, leases with less than 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 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 Greenfield 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 am the registered owner of a 2 bed flat in Greenfield, conveyancing formalities finalised in 2007. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Greenfield with over 90 years remaining are worth £216,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2089
With just 68 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Greenfield. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Greenfield are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Greenfield in which case you should be looking for a Greenfield conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.