Can you explain why leasehold purchase conveyancing in Fareham costs more?
In summary, leasehold conveyancing in Fareham and elsewhere usually involve extra work compared to freehold transactions. This includes reviewing the lease, liaising with the landlord about serving required notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Me and my brother purchased a renovated Edwardian property in Fareham. Conveyancing practitioner represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fareham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
About to purchase a new build apartment in Fareham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Fareham
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a ground for flat up to £305k and found one close by in Fareham I like with a park and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Fareham suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I'm remortgaging my existing house to a buy to let loan with Halifax and I will use the ballance of the raised equity towards a second property. The area we are interested in is Fareham. Will your conveyancers be able to act for both sets of banks and tie in the conveyances?
Make use of our search tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are your lawyer will be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and make clear your expectations and requirements.
I need to appoint a conveyancing solicitor for some conveyancing in Fareham. I happened to stumble across a web site which looks to be the ideal offering If it is possible to get all formalities completed via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?