We are planning to acquire a property and require a conveyancing solicitor in Penkridge who is on the TSB approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for TSB . We don't recommend any particular firms conducting conveyancing in Penkridge.
Just acquired a detached house in Penkridge , What is the estimated time for the Land Registry to register my ownership? My Penkridge conveyancing solicitor has been very slow, so I want to be sure that my purchase is registered.
There is nothing unique about conveyancing in Penkridge registration formalities. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether there are errors and whether the Land registry communicate with any other persons or bodies. At present in the region of three quarters of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Historically registration is effected once the buyer is living at the premises therefore registration formalities is not usually top priority but where it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Penkridge. 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.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Penkridge
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. 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.
How can the Landlord & Tenant Act 1954 affect my business property in Penkridge and how can you help?
The particular law that you refer to provides security of tenure to business lessees, granting the right to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Penkridge
I am tempted by the attractive purchase price for a two maisonettes in Penkridge which have in the region of fifty years left on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Penkridge is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Penkridge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
Leasehold Conveyancing in Penkridge - Examples of Queries before Purchasing
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If a Penkridge lease has fewer than eighty years it will impact the salability of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Penkridgelease extensions you will need to own the premises for a couple of years in order to be eligible to carry out a lease extension. What is the the remaining lease term? Best to be warned if fixing the lift or some other major work is anticipated that will be shared by the tenants and will dramatically increase the the maintenance costs or result in a one off payment.
My a decade ago. He has been married, divorced and has recently remarried. He now wishes to dispose of the Penkridge property. I believe he will simply be need to provide a copy of the marriage certificates to the solicitor but he is anxious it will hold up the sale of the apartment. Is it worth updating the land title information for the house?
The is no need to update the register on the basis that you have the evidence required to show how the change of name has come about.
The purchaser’s solicitor should review the registered details and ask for evidence by way of proof of the change of name for example marriage documentation.