I am buying a house mortgage free in Kensal Rise. I have lived for the last 20 years in Kensal Rise. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then almost all of the Kensal Rise conveyancing searches are optional. Your solicitor will 'advise', no-doubt strongly, that you should have searches completed, but she has a professional duty to take that path of encouragement . One thing to bear in mind; if you are likely to dispose of the house in the future, it could be of interest to your prospective purchaser what the searches determine. On occasion premises with functional issues can still throw up adverse search results. A good conveyancing solicitor in Kensal Rise will provide you some helpful advice in this regard.
Why is leasehold purchase conveyancing in Kensal Rise costs more?
The conveyancing fees on a leasehold property in Kensal Rise is frequently higher when contrasted to a freehold acquisition or disposal. This is because there is an amount of supplemental work necessary in dealing with the landlord and management company to collate the evidence concerning whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
My partner and I are selling our house in Kensal Rise and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Kensal Rise lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Kensal Rise. We have lived in Kensal Rise for three years we know of no issue. Do we get in touch with our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should check with 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)
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Kensal Rise I like with a park and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Kensal Rise in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I was recommended by a few estate agents in Kensal Rise to choose a property lawyer on your site. Is there a financial advantage for Estate Agents to market your lawyers ahead of alternative conveyancing organisations?
We don’t make any financial incentive for pointing buyers and sellers our way. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My wife and I purchased a leasehold house in Kensal Rise. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Kensal Rise who previously acted has long since retired. Any advice?
First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Kensal Rise conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We have reached the end of our tether in negotiating a lease extension in Kensal Rise. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension decision for a Kensal Rise property is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case was in relation to 1 flat. The unexpired lease term was 84.34 years.