Do the conveyancing lawyers via your comparison service perform attended exchange conveyancing in Tewkesbury?
There are a few conveyancing specialists who can conduct one day exchanges. You should e-mail us to get a fee calculation and details as to availability.
Will my conveyancer be raising enquiries concerning flooding during the conveyancing in Tewkesbury.
Flooding is a growing risk for solicitors carrying out conveyancing in Tewkesbury. Some people will acquire a property in Tewkesbury, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Tewkesbury. The conventional set of property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to find out whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could bring a legal claim for losses resulting from an inaccurate reply. A buyer’s lawyers should also order an enviro search. This should disclose if there is a recorded flood risk. If so, further inquiries will need to be conducted.
Over the last few months I have been searching for a flat up to £235,500 and found one near me in Tewkesbury I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. There is not much else in Tewkesbury for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I am thinking of appointing a conveyancing lawyer in Tewkesbury for my home move. Is there any facility to review a solicitor's record with the profession’s regulator?
Members of the public can find presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.
I've recently bought a leasehold house in Tewkesbury. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Tewkesbury Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
Can you inform me if there are any major works in the planning that could increase the maintenance fees? How many of the leaseholders are in arrears for their maintenance charge payments?
I own a leasehold flat in Tewkesbury. Conveyancing was finished in 2009. I have read on numerous consumer forums that I mustn’t let the lease length get too short. Is this right?
Tewkesbury domestic long term leases are for a fixed term - often 99 years when they started. However many flats in Tewkesbury were constructed or converted in the 60’s and so such leases now have less than eighty years left to run. This may sound like a long time however Banks, Building Societies and other mortgage lenders generally require 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 maximise the saleability of your property you should be considering whether or not to extend your lease long before you come to sell it. There are also advantages to taking action before the lease reaches even 80 years as when the lease falls below eighty years the premium to be paid to extend starts to escalate.