About to purchase a new build flat in Highnam. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Highnam
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Due to the input of my in-laws I had a survey completed on a house in Highnam prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not give a loan on such a home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Highnam. Conveyancing will be smoother if you use a solicitor in Highnam especially if they regularly deal with such properties in Highnam.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Highnam and how can your lawyers assist?
The particular law that you refer to affords protection to business leaseholders, giving them the legal entitlement to make a request to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Highnam
My brother has recommend that I use his conveyancers in Highnam. Do I follow his guidance?
No doubt the best way to find a conveyancing practitioner is to seek guidance from friends or relatives who have experience in using the solicitor you're are thinking of instructing.
What advice can you give us when it comes to finding a Highnam conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Highnam conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Highnam conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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If the firm is not ALEP accredited then what is the reason?
I own a garden flat in Highnam, conveyancing was carried out in 2010. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Highnam with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2080
With only 56 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more 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 taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I am buying a house and require a conveyancing solicitor in Highnam who is on the lender approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who conduct conveyancing in Highnam. We dont recommend any particular solicitor.