I am in need of a property lawyer. Should I go for for a national conveyancer rather than a high street Otford conveyancing lawyer?
Otford is a special area, where regional experience helps. The relaxed pace of life has it’s attractions – but not for your house move. The conveyancers that we endorse possess wide Otford insight with a positive, hands-onapproach that ensures everything runs smoothly. It is a definite plus where they enjoy established connections with financial advisers, local authorities, surveyors and counterpart Otford conveyancing practices
My friend suggested that where I am purchasing in Otford 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 Otford conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Otford 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 type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Otford.
I purchased a renovated Edwardian property in Otford. Conveyancing practitioner represented me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for 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 Otford and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who completed the work.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Otford I like with amenity areas and transport links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Otford for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I am thinking of appointing a conveyancing practitioner in Otford for my home move. Can I review a firm’s complaints history with the profession’s regulator?
Members of the public can find published Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could recorded call for training reasons.
I am tempted by the attractive purchase price for a two maisonettes in Otford which have in the region of 50 years left on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
I inherited a ground floor flat in Otford, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Otford with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2091
With only 66 years unexpired the likely cost is going to span between £11,400 and £13,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.