We are selling our house in Henllys and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the buyers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Henllys. Having lived in Henllys for six years we know of no issue. Do we get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
four months have elapsed following my purchase conveyancing in Henllys completed. I have checked the Land Registry site which shows that I paid £175,000 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.
I have been on the look out for a flat up to £305k and identified one close by in Henllys I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Henllys suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Am I better off to use a Henllys conveyancing practitioner based in the location that I am buying? I have an old university friend who can carry out the legal work however her office is approximately 350kilometers drive away.
The primary upside of using a high street Henllys conveyancing firm is that you can drop in to execute paperwork, deliver your ID and pester them where appropriate. Having local Henllys know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were content that must trump using an unfamiliar Henllys conveyancing lawyer just because they are local.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Henllys. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Henllys are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Henllys so you should seriously consider shopping around for a Henllys conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
Henllys Conveyancing for Leasehold Flats - Examples of Queries before buying
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What is the yearly maintenance fee and ground rent? For most Henllys leaseholds the cost for major works tend not to be included within service charges, albeit that a few managing agents in Henllys obliged leaseholders to pay into a sinking fund and this is used to offset against major repairs or maintenance. What prohibitions are there in the Henllys Lease?
We own a leasehold flat in Henllys. Conveyancing was finished in five years ago. I have been told that I mustn’t allow the the remaining lease term to fall too low. Is this right?
Henllys leasehold properties are for a fixed term - normally ninety nine years when they commenced. However a significant flats in Henllys were constructed or converted 20 or more years ago and so these leases now have fewer than 80 years unexpired. This may seem like a long time but Banks, Building Societies and other mortgage companies generally require leases to have a minimum of seventy five years left to adequate security. This means that when you come to sell the property you will need a lease extension if you are approaching 75 years. To maximise your property value you should be considering whether or not to extend your lease well in advance of selling the property. There are also advantages to doing so before the lease hits 80 years as when the lease is below 80 years the premium to be paid to extend starts to get a lot more expensive.