IfI was to buy a freehold housein Maulden for cash and dispense with a survey and no conveyancing searches how much would I expect to to save on my conveyancing in Maulden?
Any savings you would make will be limited to the costs for searches. A solicitor is required to do the vast majority of work - money laundering, correspond with the sellers conveyancing practitioner, SDLT return, register the property etc. A marginal saving might be made by not needing to register a mortgage however it won't be a lot.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Maulden. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Maulden?
On the day of completion you do not need to go to the conveyancers office in Maulden. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to receive the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
A colleague pointed out to me me that in buying a property in Maulden there may be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Maulden which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Maulden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Maulden?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Barclays and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
About to purchase a new build flat in Maulden. Conveyancing is daunting 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.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Maulden
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are architect prepared.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Maulden I like with open areas and railway links nearby, however it only has 51 years on the lease. I can't really find anything else in Maulden suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
How can the Landlord & Tenant Act 1954 impact my business property in Maulden and how can your lawyers assist?
The particular law that you refer to gives security of tenure to commercial leaseholders, giving them the legal entitlement to make a request to court for a new lease and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Maulden
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Maulden. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Maulden are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Maulden in which case you should be shopping around for a Maulden conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.
I own a ground floor flat in Maulden, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Maulden with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2104
With 79 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.