My husband and I are acquiring a leasehold flat in Grenoside. My Solicitor has never been on on the bank approved panel. Am I still permitted to appoint my Grenoside conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
You must appoint a lawyer to complete the legal work required if you need a mortgage to purchase your home. They will carry out all the relevant legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. You can select a Grenoside solicitor of your choosing. Nevertheless, if the conveyancing practitioner selected is not a member of the mortgage company approved list additional fees will be incurred as separate legal representation will be need by the mortgage company. Lender panel applications can be submitted, so provided your solicitor has not historically applied for membership they can do so.
Are there restrictive covenants that are commonly identified during conveyancing in Grenoside?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Grenoside. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Grenoside is the location of the property. What do you suggest?
Flying freeholds in Grenoside are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Grenoside you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grenoside may decide 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.
What does commercial conveyancing in Grenoside cover?
Grenoside conveyancing for business premises incorporates a broad range of guidance, provided by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Back In 2007, I bought a leasehold house in Grenoside. Conveyancing and Skipton Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Grenoside who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Grenoside conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1 bedroom flat in Grenoside, conveyancing having been completed October 2005. How much will my lease extension cost? Equivalent properties in Grenoside with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2080
With only 55 years remaining on your lease the likely cost is going to range between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
We own a leasehold flat in Grenoside. Conveyancing was finished in 2010. I have read on a number of consumer forums that I mustn’t let the lease length get too short. Is this right?
Grenoside leasehold properties are for a prescribed period - often just under one hundred years when they started. However a significant flats in Grenoside were constructed or converted in the 70’s80’s and so such leases now have under 80 years unexpired. That may sound like plenty of time however Banks, Building Societies and other mortgage institutions tend to need leases to have a minimum of seventy five years remaining to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To optimize the saleability of your property you should be considering whether to extend your lease well in advance of selling the property. Furthermore advantages to taking action before the lease reaches even 80 years as when the lease falls below eighty years the premium you have to pay to extend starts to get a lot more expensive.