It has come to my attention via my IFA that my Duxford property lawyer is not on the lender Conveyancing panel. What can I do to be certain if this is indeed the case?
You need to contact your Duxford lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they may recommend you to a Duxford conveyancing firm that is on the conveyancing panel for your bank.
AssumingI was to acquire a freehold homein Duxford for cash and have no survey and no local authority searches how much could I expect to have to pay for conveyancing in Duxford?
Any savings you would gain will be isolated to the Duxford conveyancing searches. A lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancing practitioner, stamp duty return, register the ownership etc. A slight saving might be made by not needing to register a mortgage however it won't be meaningful.
As a first time buyer what is the most important piece of guidance you can impart regarding purchase conveyancing in Duxford?
You may not hear this from too many lawyers but conveyancing in Duxford or throughout England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the ownership transfer. For instance, the seller, estate agent and even potentially a bank. Choosing a lawyer for your conveyancing in Duxford an important selection as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to act in your best interests and to protect you.
We are witnessing a worrying increase of a "blame" culture- someone must be blamed for the process taking so long. You must always trust your solicitor ahead of the other players in the home moving process.
About to purchase a new build flat in Duxford. Conveyancing is a frightening process 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 questions that you may expect your new-build leasehold conveyancing in Duxford
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. 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.
I have been on the look out for a ground for flat up to £195,000 and identified one close by in Duxford I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Duxford suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass 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 consult your conveyancing solicitor regarding this matter.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Duxford. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Duxford ?
The majority of houses in Duxford are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Duxford so you should seriously consider looking for a Duxford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.
I invested in buying a garden flat in Duxford, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Duxford with over 90 years remaining are worth £180,000. The ground rent is £65 yearly. The lease ceases on 21st October 2084
With 59 years left to run the likely cost is going to range between £20,900 and £24,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.