I have just started taking steps with a view to porting my current residential home loan to a BTL Chelsea Building Society mortgage. The bank has said that I require a solicitor for this. I spoke to my former Boncath conveyancing practitioner who acted on my behalf when I previously purchased the premises. The costs estimate sent of £500 has surprised me as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The charges appear a little high. Where you are content to spend time scrutinising costs you might reduce the fees marginally by say £125. On the other hand, assuming were pleased with the conveyancing the firm offered you maycome to rue opting for an a cheaper lawyer. Remember to check that the conveyancer can represent Chelsea Building Society. Do utilise our search tool to locate a Boncath conveyancing firm on the Chelsea Building Society approved list of lawyers, which can often include conveyancing solicitors in Boncath.
Last September we completed a house move in Boncath. We have noticed several issues with the house which we suspect were missed in the conveyancing searches. Is there anything we can do? What searches should? have been conducted for conveyancing in Boncath?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Boncath. Conveyancing searches and investigations undertaken during the buying process are supposed to help avoid problems. As part of the process, a property owner fills in a document known as a Seller’s Property Information Form. If the information is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Boncath.
I used Arc property Solicitors a few years past for my conveyancing in Boncath. I now require my file but the law firm has closed. What do I do?
Do contact 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 Boncath 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.
I am looking for a leasehold apartment up to £305k and found one close by in Boncath I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Boncath suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
How can the Landlord & Tenant Act 1954 impact my business premises in Boncath and how can your lawyers assist?
The 1954 Act affords protection to business tenants, giving them the dueness to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Boncath
I am tempted by the attractive purchase price for a two maisonettes in Boncath which have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Boncath is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Boncath 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.
Boncath Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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Best to be warned whether window replacement or some other major work is due shortly that will be shared by the leaseholders and will dramatically increase the the maintenance charges or require a specific payment. Are there any major works in the near future that will increase the service fees? Its a good idea to find out as much as possible regarding the company managing the block as they will either make living at the property much simpler or problematic. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. Don't be shy to ask other people what they think of them. Finally, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely what it includes.