It is is a decade since I bought my home in Frinton and Walton. Conveyancing solicitors have just been appointed on the sale but I am unable to track down my title deeds. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the lender or they could be in the possession of the conveyancers who acted in your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Frinton and Walton involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
A colleague advised me that where I am purchasing in Frinton and Walton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Frinton and Walton conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Frinton and Walton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Frinton and Walton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Frinton and Walton.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who dealt with the conveyancing in Frinton and Walton 10 years ago no longer exist. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer should know precisely where to look for all the suitable paperwork so you can purchase or dispose of your property without a hitch. If duplicates are not available, your conveyancer may be able to put in place insurance or indemnities against future claims on the premises.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Frinton and Walton I like with amenity areas and railway links nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Frinton and Walton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I am selling my house. My former conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Frinton and Walton if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Frinton and Walton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
Do you have any top tips for leasehold conveyancing in Frinton and Walton with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Frinton and Walton can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers’ conveyancers. A minority of Frinton and Walton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. You believe that you know the number of years left on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. Many freeholders or managing agents in Frinton and Walton charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Frinton and Walton. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Arranging a new share certificate is often a time consuming formality and delays many a Frinton and Walton conveyancing deal. Where a reissued share is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
I invested in buying a basement flat in Frinton and Walton, conveyancing was carried out March 2000. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Frinton and Walton with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2096
With just 71 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.