Can you explain why leasehold purchase conveyancing in Tintagel costs more?
Tintagel leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I happen to be the sole beneficiary of my late mum's estate with all property in now in my sole name, including the house in Tintagel. The Tintagel property was put into my name in April. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be treated the same way as though I had purchased the house in April. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view banks take of it, depend on the mortgage company as this clause chiefly exists to capture the purchase and immediately sell or the flipping of property.
We are getting the release of further monies on our home loan from Nottingham as we want to carry out improvements to our property in Tintagel. Are we obliged to appoint a bricks and mortar Tintagel solicitor on the Nottingham conveyancing panel to handle the legals?
Nottingham would not normally appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham conveyancing panel.
The formalities of my purchase has taken place for my property in Tintagel. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My wife and I own a semi-detached Victorian property in Tintagel. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tintagel and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who carried out the work.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Tintagel I like with amenity areas and transport links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Tintagel in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My company is intending to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no fees for non-domestic conveyancing in Tintagel for below 1500k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Tintagel, including the sale and acquisition of businesses as well as simply premises. Whether you are looking to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. As for the charges this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or telephone so as to enable us to furnish you with a fixed commercial conveyancing calculation.
I have just started marketing my 2 bed apartment in Tintagel. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual given that all ground rent and service charges will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I inherited a 1 bedroom flat in Tintagel, conveyancing was carried out 8 years ago. How much will my lease extension cost? Corresponding flats in Tintagel with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2105
With 80 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.