I require conveyancing for a flat in a fairly new development (seven years old) in Shropshire. Almost all the flats are already occupied. Do I need carry out the conveyancing searches as part of conveyancing in Shropshire?
A big part of the Shropshire conveyancing process is the conveyancing searches. There are a large number of search providers conducting Shropshire conveyancing searches, as well direct from the local authority. These are known collectively as personal search organisation and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authoritative source.
Can you explain why leasehold purchase conveyancing in Shropshire is more expensive?
In short, leasehold conveyancing in Shropshire and elsewhere usually warrants more hours of investigation compared to freehold conveyancing. This includes lease investigation, liaising with the landlord concerning serving required notices, obtaining current service charge and management information, procuring the freeholder’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 – no matter how many different owners have owned the lease since it was first entered into.
I opted to have a survey done on a house in Shropshire in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may not issue a loan on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shropshire. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Shropshire. I happened to land on a web site which seems to have the perfect solution If there is a chance to get all this stuff completed via email that would be preferable. Should I be wary? What are the potential pitfalls?
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 today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Shropshire. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Shropshire are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Shropshire so you should seriously consider shopping around for a Shropshire conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I inherited a 1st floor flat in Shropshire, conveyancing having been completed in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Shropshire with an extended lease are worth £185,000. The ground rent is £65 charged once a year. The lease comes to an end on 21st October 2085
With just 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
What is the reason for new build conveyancing in Shropshire being more expensive?
Conveyancing in Shropshire for newly converted or new build homes often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further questions and contractual considerations.