Should my conveyancer be asking questions concerning flooding during the conveyancing in Swinton.
Flooding is a growing risk for lawyers conducting conveyancing in Swinton. Some people will acquire a house in Swinton, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Swinton. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to discover if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the seller, then a purchaser may issue a legal claim for losses resulting from an misleading answer. The purchaser’s solicitors may also commission an environmental search. This will disclose if there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
I have a renovated Victorian property in Swinton. Conveyancing solicitor represented me and TSB. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Swinton 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 mortgage companies. You can also enquire as to the situation with your conveyancing practitioner who conducted the conveyancing.
I have been on the look out for a flat up to £235,500 and found one close by in Swinton I like with open areas and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in Swinton for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
My company is intending to take over a lease of a shop on a shopping parade. Can you recommend solicitors offering no-sale-no fees for non-domestic conveyancing in Swinton for less than 1500k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Swinton, including the disposal and acquisition of businesses as well as simply property. If you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can find you the right solicitor. As for the charges this will depend on the structure and heads of terms of the deal. Please provide us with your contact information or phone us so that we can provide you with a detailed commercial conveyancing quote.
I am tempted by the attractive purchase price for a couple of maisonettes in Swinton which have approximately fifty years left on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I am the registered owner of a 1st floor flat in Swinton, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Swinton with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2101
You have 77 years unexpired the likely cost is going to range between £7,600 and £8,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
We have been told by many friends that it can take six to eight weeks for Swinton conveyancing to complete.This was four weeks ago. The draft contract was only received from the vendors property lawyer last week so now does it countdown?
There is no official timeframe for conveyancing in Swinton, or any location. You just have to ensure that your finances are in place and in due course the rest will come to you eventually.