We hired a local firm for our conveyancing in Park Hill last week. After carefully reading the Terms and Conditions it is apparent thatwe are on the hook for charges even where the transaction does not complete. Should I ditch them and choose an internet conveyancing company advertising no-sale-no-fee conveyancing in Park Hill?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will tend to be be more expensive to cover the cases that do not go ahead. You should be mindful that these promotions rarely protect you from expenses for instance Park Hill conveyancing search costs.
The deeds to my property are lost. The solicitors who dealt with the conveyancing in Park Hill 10 years ago no longer exist. Will I be able to sell the house?
As long as you have a registered title the details of your proprietorship will be retained by the Land Registry under a Title Number. It is easy to conduct a search at the Land Registry, find your property and obtain up to date copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will also normally retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I have been on the look out for a ground for flat up to £305k and identified one close by in Park Hill I like with open areas and station in the vicinity, however it's only got 52 years on the lease. I can't really find anything else in Park Hill for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
My business partner and I are hoping to take over a lease of an office on a shopping parade. Can you recommend conveyancers offering fixed fees for commercial conveyancing in Park Hill for less than 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Park Hill, including the disposal and acquisition of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we can find you the right solicitor. As for the charges this will depend on the structure and complexity of the proposed transaction. Please provide us with your details or telephone us so that we may supply you with a fixed commercial conveyancing quote.
I need to find a conveyancing solicitor for sale conveyancing in Park Hill. I happened to land on a web site which looks to be the perfect answer If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a two flats in Park Hill which have approximately fifty years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Park Hill is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with less than 75 years become less and less attractive. 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 residence 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 Park Hill 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.
Park Hill Leasehold Conveyancing - A selection of Queries before buying
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What is the service charge and ground rent on the apartment? The answer will be important as a) areas could cause problems in the building as the communal areas may start to deteriorate where repairs are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details If a Park Hill lease has fewer than 80 years it will have adverse implications on the salability of the flat. It is worth checking with your bank that they are content with residual term of the lease. A short lease means that you will most likely require a lease extension at some point and it is worth finding out how much this would cost. For most Park Hilllease extensions you would be be obliged to have owned the property for 24 months in order to be legally able to exercise a lease extension.