Can you explain why leasehold purchase conveyancing in Headley costs more?
Headley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We previously chose conveyancing lawyers with offices in Headley on the Aldermore solicitor approved list. They have just billed me a supplemental charge for the legal aspects of the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer may levy a fee for this. The fee is not set by Aldermore but by your Headley lawyer. Numerous firms on the Aldermore panel will quote an ‘acting for lender’ fee and others do not.
I have instructed a Headley conveyancer having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Headley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Nationwide have agreed my mortgage in principle, my offer on a apartment in Headley has been accepted, what are the next steps?
Your property agent will wish to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Telephone Nationwide or the broker and finish off any appropriate documentation. Nationwide will sellect a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Nationwide will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Headley.
I require quick conveyancing in Headley as I have an ultimatum to sign on the dotted line in less than one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to have searches carried out although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Headley the following are examples of issues that can show up and adversely affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I have justfound out that Wolstenholmes have closed. They conducted my conveyancing in Headley for a purchase of a leasehold flat 9 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Headley conveyancing specialists.
As co-executor for the estate of my aunt I am disposing of a residence in Monmouth but reside in Headley. My solicitor (approximately 300 miles from merequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Headley to attest this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are located in Headley
I am tempted by the attractive purchase price for a couple of maisonettes in Headley both have approximately fifty years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Headley is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. For most purchasers and banks, 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 property 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 premises 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 Headley 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.
Headley Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
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What is the service charge and ground rent on the flat? Does the lease have onerous restrictions?