It is 10 years ago since I bought my property in Piccadilly. Conveyancing solicitors have just been instructed on the sale but I can't track down the title documents. Will this cause complications?
Don’t worry too much. Firstly the deeds may be kept by your mortgage company or they could be in the possession of the conveyancers who acted in the purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Nearly all conveyancing in Piccadilly involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial site in Piccadilly?
Its becoming the norm that commercial conveyancing solicitors in Piccadilly will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Piccadilly. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Piccadilly.
For each commercial conveyancing transaction in Piccadilly it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Piccadilly commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Piccadilly.
It has been 4 months following my purchase conveyancing in Piccadilly completed. I have checked the Land Registry site which shows that I paid £150,000 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 residence 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.
How do I use your search facility to select a conveyancing lawyer in Piccadilly on the authorised to act for my mortgage?
First pick a mortgage company such as Accord Mortgages Ltd, The Royal Bank of Scotland or Platform Home Loans Ltd then choose your location for instance Piccadilly. Conveyancing firms in Piccadilly and across England and Wales should be shown.
Planning to sign contracts shortly on a basement flat in Piccadilly. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Piccadilly should include some of the following:
Do you need to have carpet in the flat or are you allowed wood flooring? It needs to be made clear to you whether the lease allows you to add or improve anything in the flat- you should know whether it applies to all alterations or limited to structural alteration, and whether permission is mandated necessary Details of the parties to the lease, for instance these could be the lessee, head lessor, landlord The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. What options are available to the landlord where you breach a clause of your lease?
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Piccadilly. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Piccadilly conveyancing firm who can help.
An example of a Lease Extension decision for a Piccadilly property is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case was in relation to 1 flat. The unexpired term was 21 years.
We own a leasehold flat in Piccadilly. Conveyancing was finished in 2009. I have been told that I mustn’t let the lease length fall too short. Why is that a problem?
Piccadilly residential long term leases are for a set period - often 99 years when they started. However many flats in Piccadilly were constructed or converted 30 or more years ago and so such leases now have under 80 years left to run. This may seem like a long time however Banks, Building Societies and other mortgage lenders generally need leases to have a minimum of 75 years remaining to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching 75 years. To optimize your property value you should be considering whether or not to extend your lease long before you come to sell it. There are also strong financial reasons to taking action before the lease hits eighty years as when the lease falls below eighty years the premium to be paid to extend starts to escalate.