I am need of leasehold conveyancing for an apartment in a fairly new development (five years built) in Waltham. The vast majority the properties have already been disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in Waltham?
If you are acquiring a property with the assistance of a loan, your bank will need some (many) of the searches so you'll have no choice. If not, then Waltham conveyancing searches are optional. No doubt your conveyancer, will ’encourage’, perhaps strongly, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to instruct a new lawyer for your conveyancing in Waltham.
I used Stirling Law a few years past for my conveyancing in Waltham. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Waltham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Waltham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Waltham
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I need to find a conveyancing solicitor for freehold conveyancing in Waltham. I've chance upon a web site which seems to have the perfect solution If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a couple of maisonettes in Waltham which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Waltham is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Waltham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Waltham Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
-
Are any of leasehold owners in arrears of their service charge liability? Is anyone aware of any major works in the planning that could increase the maintenance costs? Best to be warned if changing the roof or some other major work is due shortly that will be shared by the leasehold owners and will dramatically impact the level of the maintenance fees or require a one off invoice.
My wife and I are FTB’s just having agreed a price on a property in Waltham, and are now looking to get solicitors instructed. I have used the various rating based websites and the results are from all over the the UK. Is it essential to have a Waltham lawyer local to our potential property? We are content to do all the communicating electronically, but I assume at some point we will need to physically go into the solicitor's office to sign contracts?
The solicitor does not need to be in Waltham, but choosing local means that you have the option to go in if needed, by way of example, if a signature is needed urgently. Also, a Waltham solicitor is likely to be familiar with local agents and (if the vendor has chosen a local solicitor) with them, which should help keep things moving faster.