A colleague pointed out to me me that in purchasing a property in Oxted there could be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
We are aware of anumerous of properties in Oxted which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Oxted should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I purchasing a 4 bedroom semi-detached house in Oxted. Our aim is to an extension at the rear at the property.Will the conveyancing process include checks to see if these works are permitted?
Your conveyancer will check the deeds as conveyancing in Oxted will occasionally identify restrictions in the title documents which restrict categories of alterations or need the permission of another owner. Some works need local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
My wife and I are in the throws of viewing houses in Oxted and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Barclays.
It would be prudent to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are seeking a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
Are there restrictive covenants that are commonly identified during conveyancing in Oxted?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Oxted. 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…’
How does conveyancing in Oxted differ for new build properties?
Most buyers of new build property in Oxted come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Oxted usually buy the site, 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 property lawyers 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 used to new build conveyancing in Oxted or who has acted in the same development.
What does commercial conveyancing in Oxted cover?
Non domestic conveyancing in Oxted covers a broad array of advice, supplied by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am thinking of appointing a conveyancing practitioner in Oxted for my sale. Is it possible to check a firm’s record with the legal regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The regulator may recorded call for training reasons.
I am tempted by the attractive purchase price for a two flats in Oxted both have in the region of 50 years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Oxted is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. 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 a residence 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 Oxted conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
Oxted Leasehold Conveyancing - Examples of Queries Prior to buying
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Who are the managing agents? Where a Oxted lease has no more than 80 years it will affect the value of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. For most Oxtedlease extensions you will need to own the property for 24 months before you are legally able to extend the lease.