Can you explain why leasehold purchase conveyancing in Kingsbridge costs more?
Kingsbridge leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who conducted the conveyancing in Kingsbridge 5 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the details of your ownership will be held by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, identify your house and get current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
I am buying my first flat in Kingsbridge with a loan from Yorkshire Building Society. The developers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about this extras as it would put at risk my loan with Yorkshire Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £195,000 and identified one close by in Kingsbridge I like with a park and transport links nearby, however it only has 51 remaining years left on the lease. There is not much else in Kingsbridge for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My brother has recommend that I appoint his lawyers for conveyancing in Kingsbridge. Do I follow his recommendation?
There are no two ways about it the best way to find a conveyancing lawyer is to have referrals from friends or relatives who have used the solicitor that you are considering.
All being well we will complete the disposal of our £150,000 flat in Kingsbridge in 8 days. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Kingsbridge?
For most leasehold sales in Kingsbridge conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing pre-exchange enquiries
Where consent is required before sale in Kingsbridge
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Kingsbridge, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Kingsbridge with a long lease are worth £165,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2103
With just 77 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.