I require conveyancing for a flat in a relatively new development (five years built) in Littleover. 95% of the properties have already been occupied. Do I need carry out the local searches as part of conveyancing in Littleover?
If you are acquiring a property with the assistance of a loan, your bank will need some (many) of the searches so you'll have no choice. If not, then Littleover conveyancing searches are for you to decide upon. Your lawyer, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you may need to instruct a new lawyer for your conveyancing in Littleover.
I own a freehold house in Littleover but still charged rent, why is this and what is this?
It is rare for properties in Littleover and has limited impact for conveyancing in Littleover but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
We are planning to buy with Earl Shilton BS. I called into 3 or 4 high street practices but am struggling to find a Littleover conveyancing firm on the Earl Shilton BS approved list. Could you assist?
You should make use of the find a conveyancing panel solicitor tool on this site. Please choose the mortgage company and type Littleover or your preferred area and you will be presented with a number of lawyer offices in Littleover or near you.
I decided to have a survey completed on a property in Littleover prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some lenders may refuse to grant a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Littleover. Conveyancing will be smoother if you use a solicitor in Littleover especially if they regularly deal with such properties in Littleover.
My husband and I are FTB’s - had an offer accepted, but the agent has warned us that the seller will only proceed if we appoint their chosen lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Littleover
We suspect that the seller is not behind this request. Should the seller require ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Bypass the agents and go straight to the owners and explain that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to appoint your preferred Littleover conveyancing solicitors - as opposed tothe ones that will provide the estate agent a kickback or achieve conveyancing figures demanded by HQ.
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Littleover. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Littleover ?
Most houses in Littleover are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Littleover in which case you should be looking for a Littleover conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First 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 such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I inherited a 1 bedroom flat in Littleover, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Littleover with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2083
With 58 years left to run the likely cost is going to range between £21,900 and £25,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.