Is there a reason why leasehold purchase conveyancing in Northampton costs more?
The conveyancing costs for a leasehold property in Northampton is often more expensive than on a freehold residence. This is because there is an amount of additional time necessary in liaising with the landlord and management company to collate the evidence concerning whether the rent and service charges have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Northampton. Do I collect the keys to the premises on completion from my solicitor? If so, I will use a local conveyancing solicitor in Northampton?
On the day of completion you do not need to attend the conveyancers office in Northampton. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s lawyers, and once they have received this, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
How can we tell if a Northampton conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Northampton seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your conveyancing.
I am selling my flat. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being pedantic. The Northampton solicitor who is on the Leeds Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My relative suggested that if I am buying in Northampton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Northampton conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Northampton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Northampton Education with plans and statistics, Local Amenities and other useful data concerning Northampton.
Are there restrictive covenants that are commonly picked up during conveyancing in Northampton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Northampton. 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…’
I need to retain a conveyancing solicitor for remortgage conveyancing in Northampton. I happened to discover a site which looks to be the perfect solution If there is a chance to get all formalities completed via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two maisonettes in Northampton both have approximately fifty years left on the lease term. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
I bought a 2 bed flat in Northampton, conveyancing was carried out 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? Corresponding flats in Northampton with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2078
You have 53 years left to run we estimate the price of your lease extension to be between £27,600 and £31,800 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.