We are purchasing a new build duplex in Rednal and my lawyer is advising me that she has to the lender to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I would rather not delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why is leasehold purchase conveyancing in Rednal costs more?
The conveyancing fees on a leasehold premises in Rednal is frequently more expensive as compared to a freehold property. This is due to the extra time required in corresponding with the landlord and managing agents to collate the information concerning whether the rent and service charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
I have a renovated Georgian house in Rednal. Conveyancing practitioner acted for me and Halifax. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rednal and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who conducted the purchase.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Rednal and how can you help?
The particular law that you refer to provides a safeguard to business lessees, giving them the right to apply to court for a new tenancy and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Rednal
My brother has urged me to instruct his conveyancing solicitors in Rednal. Should I use them?
Much as we are happy to recommend a Rednal conveyancing lawyer the best way to choose a conveyancing solicitor is to get guidance from friends or family who have previously instructed the firm that you are contemplating using.
Having had my offer accepted I require leasehold conveyancing in Rednal. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Rednal - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 1 bedroom flat in Rednal, conveyancing having been completed 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Rednal with a long lease are worth £265,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2099
With only 75 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.