I am hoping to receive a mortgage with Nat West. I intend to instruct a Licensed Conveyancer in Forest of Dean. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
3 months have gone by following my purchase conveyancing in Forest of Dean took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Forest of Dean I like with amenity areas and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Forest of Dean in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
In what way can the Landlord & Tenant Act 1954 affect my commercial offices in Forest of Dean and how can you help?
The 1954 Act affords a safeguard to commercial lessees, granting the a statutory right to apply to court for a renewal tenancy and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Forest of Dean
I would like to sublet my leasehold apartment in Forest of Dean. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Forest of Dean conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek permission from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
Leasehold Conveyancing in Forest of Dean - A selection of Queries before Purchasing
-
How many of the leaseholders are in arrears for their maintenance charge payments? What is the length of the lease? Please note if it is fewer than eighty years it will affect the value of the property. It is worth checking with your bank that they are happy with residual term of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will need to own the residence for a couple of years in order to be eligible to exercise a lease extension.
My aunt purchased her house in Forest of Dean eight years ago. She has been married, divorced and has recently married again. She intends to market the property next moths. I suspect that she will simply be need to provide a copy of the marriage papers to the conveyancer however she is concerned it could hold up the house move. Should she instruct a property lawyer to update the Land Registry documents for the property?
The is no need to update the title for the property as long as you have the proof needed to show how the name change resulted.
Any buyer’s property lawyer will examine the registered entries and request evidence to establish the change of name for example marriage documentation.