I chose a local lawyer for our conveyancing in Patcham recently. After carefully reading the Ts and Cs I seeI am on the hook for costs even where the conveyance does not complete. Should I go with them or select a web based conveyancing company promising no completion no charge conveyancing in Patcham?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the fee levels will generally be uplifted to neutralise those conveyances that fail to complete. Do bear in mind that such promotions rarely protect you from outlay for instance Patcham conveyancing search charges.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who dealt with the conveyancing in Patcham 4 years ago have long since closed. What are my next steps?
Gone are the days when you need to have the physical official documentation to prove you are the owner of your registered land or property, as the Land Registry have everything they need in a digital format.
About to purchase a new build apartment in Patcham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Patcham
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
We're first time buyers - had an offer accepted, but the property agent has warned us that the seller will only issue a contract if we use the agent's recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Patcham
It is improbable the owners are behind this. If they want ‘a quick sale', turning down a serious buyer is not the way to achieve this. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you are going to appoint your preferred Patcham conveyancing lawyers - as opposed tothose that will provide their negotiator at the agency a kickback or meet his conveyancing targets set by HQ.
Last July I purchased a leasehold flat in Patcham. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a leasehold flat in Patcham, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Patcham with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2091
With 68 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
I own a leasehold flat in Patcham. Conveyancing was completed in 2011. I have been told that I should not let the lease length get too low. Why is that a problem?
Patcham leasehold properties are for a fixed period - usually just under one hundred years when they started. However a significant appartments in Patcham were constructed or converted in the 70’s80’s and so such leases now have under 80 years left to run. That may seem like a long time however Banks, Building Societies and other mortgage lenders on the whole need leases to have at least seventy five years unexpired to adequate security. This means that when you come to sell the property you will need a lease extension if you are approaching seventy five years. To increase the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. There are also significant benefits to doing so before the lease reaches even 80 years as when the lease falls below 80 years the premium to be paid to extend starts to increase.