What can a local search inform me about the property I am purchasing in North Cornelly?
North Cornelly conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every North Cornelly conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
The deeds to our house can not be found. The lawyers who dealt with the conveyancing in North Cornelly 5 years ago no longer exist. What are my next steps?
As long as the title is registered the information relating to your ownership will be held by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, identify your house and secure up to date copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will also normally retain a file copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in North Cornelly I like with a park and railway links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in North Cornelly suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I am a sole trader intending to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no charges for non-domestic conveyancing in North Cornelly for less than 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in North Cornelly, including the sale and acquisition of businesses as well as simply property. If you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the costs these will vary based on the structure and nuances of the deal. Let us have your details or call so as to enable us to supply you with a fixed commercial conveyancing calculation.
My wife and I purchased a leasehold flat in North Cornelly. Conveyancing and Barclays mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in North Cornelly who acted for me is not around. Do I pay?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a North Cornelly conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 2 bed flat in North Cornelly, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in North Cornelly with a long lease are worth £185,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2086
With 60 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
I am short of a 10% deposit on my flat purchase in North Cornelly , but I still want to proceed. What can I do?
One option is to try and agree a lower deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment