In researching online forums for a conveyancing lawyer in Hungerford, most comment that I should instruct a CQS assured lawyer. Can you explain what CQS is?
Hungerford Conveyancing Quality Scheme practices have obtained accreditation by the law Society CQS was established to promote high standards in the in the legal transfer of properties. CQS enables buyers and sellers to identify solicitor firms who provide a quality residential conveyancing. Hungerford is one of locations in England and Wales in which accredited firms have offices. The scheme requires practices to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
4 months have gone by following my purchase conveyancing in Hungerford completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey completed on a house in Hungerford before instructing lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders will not give a loan on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hungerford. Conveyancing will be smoother if you use a solicitor in Hungerford especially if they are accustomed to such properties in Hungerford.
In what way can the Landlord & Tenant Act 1954 impact my business property in Hungerford and how can your lawyers assist?
The 1954 Act gives protection to business lessees, granting the legal entitlement to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Hungerford
Am I best advised to appoint a Hungerford conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can deal with the conveyancing but his firm is located 300kilometers drive away.
The benefit of a local Hungerford conveyancing firm is that you can drop in to sign documents, deliver your ID and pester them where appropriate. Having local Hungerford know how is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that should outweigh using an unknown Hungerford conveyancing lawyer just because they are round the corner.
We own a leasehold flat in Hungerford. Conveyancing was finalised in 2010. I have been told that I mustn’t allow the the remaining lease term to get too low. Why is that a problem?
Hungerford residential long term leases are for a prescribed period - often ninety nine years when they are first granted. However many flats in Hungerford were built or converted in the 60’s and so such leases now have under eighty years remaining. That may seem like plenty of time however Banks, Building Societies and other mortgage institutions generally need leases to have a minimum of 75 years remaining to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are nearing 75 years. To optimize your property value you should be considering whether to extend your lease well in advance of selling the property. Please note that there are significant benefits to doing so before the lease hits eighty years as when the lease falls below eighty years the amount you have to pay to extend starts to escalate.