What can a local search tell me concerning the property I am buying in Preston?
Preston conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search plays an important part in most Preston conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Are there restrictive covenants that are commonly identified during conveyancing in Preston?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Preston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Preston differ for new build properties?
Most buyers of new build premises in Preston come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Preston typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Preston or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Preston I like with a park and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Preston suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could 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 with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Should I be suspicious by brokers that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Preston conveyancing practice?
As is the case with many professional services, often suggestions from family and friends can be most helpful. But there are many parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest conveyancers to appoint. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are at liberty to appoint your preferred conveyancer. Don't forget that many banks operate an approved list of law firms you are obliged to use for the mortgage related work in your home move.
My wife and I purchased a leasehold house in Preston. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Preston who previously acted has long since retired. Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Preston conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Preston conveyancing firm to represent me?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the premium.
An example of a Lease Extension matter before the tribunal for a Preston property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The unexpired lease term was 74 years.