I am acquiring a property mortgage free in Crewe. I have resided for the previous Seventeen years in Crewe. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then almost all of the Crewe conveyancing searches are at your discretion. Your lawyer will try and steer you, no-doubt strongly, that you should have searches completed, but he has a professional duty to do this. Do consider; if you are going to sell the house one day, it may be of relevance to your prospective buyer what the searches contain. There are plenty of instances where premises with day to day issues can still reveal unexpected search results. A competent conveyancing solicitor in Crewe will be able to give you some practical advice in this regard.
I am the registered owner of a freehold premises in Crewe but still charged rent, why is this and what is this?
It is rare for properties in Crewe and has limited impact for conveyancing in Crewe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
We just had an offer accepted to buy with Earl Shilton BS. I popped in a few high street solicitors but am struggling to find a Crewe conveyancing firm on the Earl Shilton BS approved list. Could you help?
You should take advantage of the find a lender approved solicitor tool on this page. Please choose the lender and type Crewe or your preferred area and you will be presented with a number of lawyer offices in Crewe or by proximity to you.
I am buying a new build apartment in Crewe. 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 legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Crewe
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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?
Over the last few months I have been searching for a flat up to £305k and found one close by in Crewe I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Crewe in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the anticipated 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 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 and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am looking at a two flats in Crewe both have approximately forty five years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Crewe. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area.
Leasehold Conveyancing in Crewe - A selection of Queries before buying
-
How is the lease structured? This information is important as a) areas can result in problems for the building as the common areas may start to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure Are there any major works anticipated that will increase the maintenance charges?