My bid for a property was accepted at auction in Longton. Conveyancing is necessary. What is next?
Having for in every practical sense signed on the dotted line you should appoint a conveyancing practitioner quickly as you will have a pending deadline in which to complete the property. An auction property will have a bespoke legal set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must give this to the lawyer working for you ASAP. You also need to ensure that that you have the requisite funding in place to complete on the date specified in the contract.
A colleague informed me that in purchasing a property in Longton there may be a number of restrictions preventing external alterations to the property. Is this right?
There are a number of properties in Longton which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Longton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Nottingham. I assume I don't need a Longton property lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Are there restrictive covenants that are commonly identified as part of conveyancing in Longton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Longton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build apartment in Longton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Longton
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Longton is the location of the property. Is there any advice you can give?
Flying freeholds in Longton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Longton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Longton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
As co-executor for the will of my uncle I am disposing of a residence in Newport but I am based in Longton. My solicitor (who is 300 miles awayrequires that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Longton who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are based in Longton
I am looking at a two flats in Longton which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Longton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Longton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a ground floor flat in Longton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Longton with over 90 years remaining are worth £206,000. The ground rent is £45 levied per year. The lease expires on 21st October 2091
With only 66 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.