A friend advised me that where I am purchasing in Minehead I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Minehead conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Minehead 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 demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Minehead Education with maps and statistics, Local Amenities and other useful information about Minehead.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Minehead?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Minehead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Minehead differ for new build properties?
Most buyers of new build premises in Minehead approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Minehead usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Minehead or who has acted in the same development.
In my capacity as executor for the will of my father I am selling a residence in Swansea but I am based in Minehead. My conveyancer (based 200 kilometers from meneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Minehead who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are based in Minehead
I am a negotiator for a reputable estate agent office in Minehead where we have experienced a few leasehold sales derailed due to short leases. I have received conflicting advice from local Minehead conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I invested in buying a 1 bedroom flat in Minehead, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Minehead with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2096
With 71 years left to run the likely cost is going to span between £9,500 and £11,000 plus legals.
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 without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
The property lawyers carrying out our conveyancing in Minehead has forwarded papers to review that indicate that the land is unregistered with epitome documents. Is it not the case that all properties in Minehead should be registered?
Although most properties in Minehead are now registered with HM Land Registry there are still a few that are unregistered. Any property in Minehead that has been purchased since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Minehead property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Minehead conveyancing lawyers will be familiar with such matters but if any uncertainty reigns the conventional guidance nowadays appears to be for the seller’s conveyancer to address the registration formalities first and then deal with the transfer to the buyer - this no doubt result in a significant delay.