It is 10 years ago since I bought my property in Charlbury. Conveyancing lawyers have now been appointed on the sale but I am unable to track down my deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be with your mortgage company or they could still be with the lawyers who handled your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Charlbury involves registered property but in the unlikely event that your home is not registered it is more problematic but is resolvable.
We're in Charlbury, First timers purchasing with a mortgage (lender is Aldermore , and our lawyer is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Charlbury I like with a park and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Charlbury suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
My partner has encouraged me to instruct his lawyers for conveyancing in Charlbury. Should I choose my own conveyancer?
No doubt the best way to find a conveyancing practitioner is to have referrals from friends or family who have actually used the conveyancer you're are thinking of instructing.
I only have Sixty One years remaining on my lease in Charlbury. I need to extend my lease but my freeholder is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. For most situations an enquiry agent would be useful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court covering Charlbury.
I bought a garden flat in Charlbury, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Charlbury with an extended lease are worth £190,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2087
With 62 years left to run the likely cost is going to range between £17,100 and £19,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of 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 clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
I am thinking of using an online property lawyer rather than a Charlbury conveyancing practice. Any advice?
Advantages do exist in being able to visit a local Charlbury conveyancing solicitor such as
- signing documents on short notice
- often being able to see someone face-to-face can make a huge difference, particularly for non-standard transactions
- the ability to complain if matters are not going as expected
When comparing estimates, look carefully for hidden extras. Most decent Charlbury high street solicitors give an all-inclusive price. Often online companies appear to offer cheap prices, yet have burried 'extras' in the small print.