Why do I have to pay up front for conveyancing in Earley?
If you are buying a property in Earley your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this will be required shortly before exchange of contracts. The final balance that is due should be sent to your lawyer shortly before completion.
My friend suggested that if I am buying in Earley I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Earley conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Earley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Earley.
Me and my brother own a semi-detached Victorian property in Earley. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Earley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing solicitor who carried out the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Earley. 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.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Earley
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I decided to have a survey completed on a house in Earley ahead of appointing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend not issue a mortgage on such a house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Earley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Earley to see if the conveyancing will be more expensive.
I am employed by a reputable estate agent office in Earley where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Earley conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Earley Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
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Is there a share of the freehold? The answer will be helpful as a) areas could result in problems for the building as the common areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the managing agents you will need to have all the details