I am purchasing a property and need a conveyancing solicitor in New Milton who is on the Britannia solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Britannia in certain locations such as New Milton. We dont recommend any particular firm.
A colleague advised me that where I am buying in New Milton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard New Milton conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about New Milton around the property and the people living there. It includes 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 statistics, New Milton Education with maps and statistics, Local Amenities and other useful information about New Milton.
It has been 3 months following my purchase conveyancing in New Milton completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in New Milton. Conveyancing is a frightening process 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.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in New Milton
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Taking into account that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in New Milton I would like to have a conversation with the conveyancer about myconveyancing prior to instructing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be conducting your property ownership legalities in New Milton.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in New Milton should be the figure that you end up paying.
I am tempted by the attractive purchase price for a two apartments in New Milton which have approximately forty five years unexpired on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in New Milton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with New Milton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
New Milton Conveyancing for Leasehold Flats - A selection of Queries before buying
-
Most New Milton leasehold flats will incur a service charge for maintenance of the building levied by the landlord. Should you acquire the apartment you will have to meet this charge, usually periodically accross the year. This may vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent to be met yearly, this is usually not a significant figure, say approximately £25-£75 but you need to check it because on occasion it could be many hundreds of pounds. On the whole the cost for major works tend not to be included within maintenance charges, albeit that some managing agents in New Milton obliged leasehold owners to contribute towards a sinking fund created for the specific purpose of building a fund for major repairs or maintenance. Are there any major works in the near future that will increase the maintenance charges?