Why is leasehold purchase conveyancing in March is more expensive?
In short, leasehold conveyancing in March and Cambridgeshire usually warrants more work compared to freehold transactions. This includes checking the lease terms, corresponding with the landlord about the service of appropriate notices, securing current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in March. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Barclays will require that you use a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who handled the conveyancing in March 4 years ago have long since closed. What do I do?
Assuming the title is registered the details of your ownership will be held by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, locate your property and get up to date copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
How does conveyancing in March differ for newly converted properties?
Most buyers of new build residence in March come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in March typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in March or who has acted in the same development.
I opted to have a survey completed on a property in March in advance of retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will not grant a mortgage on such a home.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in March. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in March to see if the conveyancing will be more expensive.
How does the Landlord & Tenant Act 1954 affect my commercial property in March and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial tenants, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. March is one of our many areas of the UK in which the firms we work with are located