My colleague recommended that if I am buying in Maxton I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Maxton conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Maxton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Maxton.
I own a renovated Georgian house in Maxton. Conveyancing solicitor acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same property. Is it worth asking Norwich and Peterborough Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Maxton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Maxton I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Maxton for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am a sole trader wishing to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed fees for commercial conveyancing in Maxton for under 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Maxton, including the disposal and purchase of businesses as well as simply property. Whether you are intending to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can find you the right solicitor. Regarding the costs this will depend on the structure and complexity of the deal. Please provide us with your contact information or phone so as to enable us to supply you with a detailed commercial conveyancing quote.
Back In 2008, I bought a leasehold flat in Maxton. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Maxton who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Maxton conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a 2 bed flat in Maxton, conveyancing was carried out December 2009. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Maxton with an extended lease are worth £211,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2092
With only 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
Is there a reason that Maxton conveyancing fees differ for leasehold and freehold properties?
Inevitably there is increased work necessary for leasehold conveyancing. Maxton has many leasehold properties. There is more paperwork involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.