Why is leasehold purchase conveyancing in Knowle is more expensive?
The conveyancing costs on a leasehold premises in Knowle is frequently more expensive as compared to a freehold acquisition or disposal. This is because there is an amount of extra time necessary in dealing with the landlord and managing agents to obtain evidence about whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
I am purchasing a flat and need a conveyancing solicitor in Knowle who is on the Halifax approved. 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 Halifax in certain locations such as Knowle. We dont recommend any particular firm.
My bid for a property was accepted at auction in Knowle. Conveyancing is necessary. What happens now?
Given that you are now legally bound yourself to purchase you should hire the services of a conveyancing solicitor as a matter of priority as you are facing a tight a fixed date to complete the transaction. An auction property will ordinarily have an associated legal pack. This will include evidence of title and search results. Where you are dealing with leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You must hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding organised to complete on the on the contractual date .
We previously appointed solicitors based in Knowle on the Nationwide solicitor panel. They are now charging me a separate fee for dealing with the Nationwide mortgage. Is this an additional conveyancing fee set by Nationwide?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer can charge a fee for this. This charge is not dictated by Nationwide but by your Knowle solicitor. Some firms on the Nationwide panel will quote ’dealing with mortgage’ fee and others do not.
My partner and I have organised the release of further monies on our home loan from Co-operative as we wish to carry out alterations to our property in Knowle. Do we need to select a local Knowle solicitor on the Co-operative conveyancing panel to deal with the paperwork?
Co-operative would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Knowle. 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Knowle
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Knowle is the location of the property. Is there any guidance you can impart?
Flying freeholds in Knowle are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knowle you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knowle may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Can you provide any advice for leasehold conveyancing in Knowle with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Knowle can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers’ conveyancers. A minority of Knowle leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing. If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Knowle conveyancing deal. Where a new share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
I bought a 2 bed flat in Knowle, conveyancing was carried out 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Knowle with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2096
With 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.