Me and my brother own a renovated Georgian house in Tadley. Conveyancing practitioner represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should read 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 Tadley 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 situation with the conveyancing solicitor who conducted the work.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Tadley is where the house is located. Can you offer any guidance?
Flying freeholds in Tadley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tadley you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tadley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible to transfer to a new conveyancer as I need to instruct one who is on the Birmingham Midshires conveyancing list. I was using a high street conveyancing solicitor in Tadley round the corner but she is not accepted by Birmingham Midshires
It would be our pleasure to assist you select a conveyancing solicitor in Tadley on the Birmingham Midshires panel. Please note that the law firms that we list do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Tadley. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Tadley.
I am thinking of appointing a conveyancing practitioner in Tadley for my remortgage. Can I see a firm’s record with the legal regulator?
Members of the public can find published Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.
Can you provide any advice for leasehold conveyancing in Tadley with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Tadley can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers’ representatives. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Some Tadley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Tadley leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you dont have the consents to hand do not contact the landlord without contacting your conveyancer before hand.
I own a ground floor flat in Tadley, conveyancing having been completed August 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Tadley with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2082
You have 57 years remaining on your lease we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
I own a leasehold flat in Tadley. Conveyancing was completed in 2011. I have been told that I should not let the the remaining lease term to get too short. What is the reasoning?
Tadley leasehold properties are for a prescribed term - usually 99 years when they commenced. However many appartments in Tadley were constructed or converted in the 70’s80’s and so these leases now have fewer than eighty years unexpired. This may sound like plenty of time but Banks, Building Societies and other mortgage institutions on the whole need leases to have at least 75 years left to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To optimize the marketability of your property you should be considering whether or not to extend your lease well in advance of selling the property. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease falls below eighty years the amount you have to pay to extend starts to escalate.