I am need of leasehold conveyancing for an apartment in a fairly new development (6 years old) in Gloucester. Almost all the properties are already occupied. Is it strictly necessary to order local searches for my conveyancing in Gloucester?
You would be opening yourself up to an unnecessary risk in failing carrying out Gloucester conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in the strongest possible terms that your conveyancer conducts them. Where accelerating the process and cost are top of your concerns you should consider with your lawyer about the options such as indemnity insurance available to you
My wife and I are intent on selling our house in Gloucester and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a national conveyancing firm rather than a conveyancing solicitor in Gloucester. We have lived in Gloucester for three years we know that this is a non issue. Should we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I purchased a 4 bedroom Edwardian property in Gloucester. Conveyancing lawyer represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be 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 Gloucester 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 purchasers. You can also question the position with the conveyancing lawyer who completed the work.
About to purchase a new build apartment in Gloucester. 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 legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Gloucester
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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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey done on a property in Gloucester before instructing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders tend refuse to grant a loan on this type of premises.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Gloucester. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes a Gloucester lease problematic?
There is nothing unique about leasehold conveyancing in Gloucester. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall A duty to insure the building
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.
Gloucester Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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Most Gloucester leasehold apartments will have a service bill for maintenance of the block set on behalf of the freeholder. If you purchase the apartment you will have to meet this amount, usually periodically during the year. This can vary from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a large sum, say around £50-£100 but you should to enquire as sometimes it can be surprisingly expensive. How is the lease structured? Does this lease have in excess of 90 years remaining?