It is is a decade since I purchased my home in Fishponds. Conveyancing solicitors have now been appointed on the sale but I am unable to track down my title deeds. Will this cause complications?
Don’t worry too much. First the deeds may be kept by your mortgage company or they may stored with the conveyancers who acted in your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in Fishponds relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
What does a local search reveal about the house we're purchasing in Fishponds?
Fishponds conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays an important part in many a Fishponds conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
It has been three months following my purchase conveyancing in Fishponds concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Fishponds is the location of the property. Is there any advice you can give?
Flying freeholds in Fishponds are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fishponds you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fishponds may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Hoping to buy a property located in Fishponds and I am already nervous. I couldn't find anything specific about Fishponds. Conveyancing will be needed in due course but do you know about the Fishponds area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Fishponds. In the meantime here are some basic statistics that we found
I work for a long established estate agency in Fishponds where we have experienced a few flat sales derailed as a result of short leases. I have been given contradictory information from local Fishponds conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to 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 disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
I acquired a 2 bed flat in Fishponds, conveyancing was carried out April 2000. How much will my lease extension cost? Corresponding properties in Fishponds with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2087
With just 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.