AssumingI were to acquire a straightforward propertyin Henllys for cash and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Henllys?
Any savings you would gain would be limited to the costs for searches. The conveyancer is required to do the vast majority of work - money laundering, correspond with your sellers conveyancing practitioner, stamp duty return, register the title etc. A marginal saving might be made by not having to register a charge but it will not be a lot.
Having sold my house in Henllys last July yet the purchaser is texting every few hours complaining that her conveyancer is waiting to hear from mine. What should have happened now that I have sold?
Following your house sale your solicitor should deliver the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your solicitor must also confirm that the legal charge in favour of the lender has been discharged to the buyers lawyers. There are no post completion steps just for conveyancing in Henllys.
I have recentlybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Henllys for a purchase of a leasehold flat 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Henllys conveyancing specialists.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Henllys I like with a park and station nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Henllys for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I have been advised by a couple of local selling agents in Henllys to find a solicitor using your seach tool. What’s the financial upside for Estate Agents to offer your lawyers rather than another?
We don’t offer any referral fee for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I've recently bought a leasehold flat in Henllys. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1 bedroom flat in Henllys, conveyancing having been completed 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Henllys with an extended lease are worth £195,000. The ground rent is £45 yearly. The lease ceases on 21st October 2088
With just 63 years left to run the likely cost is going to range between £16,200 and £18,600 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.