Me and my partner are about to complete on the purchase of a property in Hightown but as a result of damage from the recent storms I have was able negotiate compensation from the seller of £2k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process yet Kent Reliance will not permit this. Why were they approached?
The lawyer that is on the Kent Reliance conveyancing panel is obliged to inform Kent Reliance of any variations to the purchase price. If you prohibit your property lawyer to report the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new solicitor for your conveyancing in Hightown.
A friend advised me that where I am purchasing in Hightown I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Hightown conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Hightown around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hightown Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Hightown Education with maps and statistics, Local Amenities and other useful information regarding Hightown.
I acquired my home on 10 October and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Hightown advises it would be concluded in less than a month. Are titles in Hightown uniquely lengthy to register?
There is nothing unique about conveyancing in Hightown registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd parties. At present approximately 80% of submission are fully dealt with in less than three weeks but occasionally there can be extensive delays. Historically registration occurs after the buyer is living at the property therefore post completion formalities is not always primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers must speak with the land registry and explain the circumstances.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Hightown I like with open areas and transport links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Hightown in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Given that I will soon spend over three hundred thousand on a terraced house in Hightown I wish to talk to a solicitor regarding theconveyancing before appointing the firm. Can this be arranged?
Absolutely - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer due to be conducting your conveyancing in Hightown.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Hightown should be the figure that you end up paying.
Last April I purchased a leasehold property in Hightown. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee 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 purchased a leasehold flat in Hightown, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Hightown with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2096
With just 70 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The suggested premium range 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 detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.