Is there a reason why leasehold purchase conveyancing in Staffordshire is more expensive?
In summary, leasehold conveyancing in Staffordshire and elsewhere usually requires additional hours of investigation compared to freehold transactions. This includes reviewing the lease, liaising with the landlord concerning the service of appropriate notices, procuring current service charge and management information, procuring the landlord’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 – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Are there restrictive covenants that are commonly picked up during conveyancing in Staffordshire?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Staffordshire. 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 Staffordshire differ for new build properties?
Most buyers of new build or newly converted property in Staffordshire come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Staffordshire tend to purchase 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 accustomed to new build conveyancing in Staffordshire or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Staffordshire is where the house is located. Can you offer any advice?
Flying freeholds in Staffordshire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Staffordshire you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Staffordshire may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Is it best to choose a Staffordshire conveyancing lawyer who is local to the property I am purchasing? An old friend can perform the legal formalities but his firm is located approximately 350miles drive away.
The primary upside of using a local Staffordshire conveyancing firm is that you can visit the firm to sign documents, present your ID and pester them if necessary. They will also have local insight which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that must trump using an unfamiliar Staffordshire conveyancing solicitor solely due to them being local.
My wife and I may need to rent out our Staffordshire 1st floor flat temporarily due to a career opportunity. We instructed a Staffordshire conveyancing practice in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Staffordshire conveyancing lawyer is no longer available you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Leasehold Conveyancing in Staffordshire - Examples of Questions you should ask before Purchasing
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Does the lease contain onerous restrictions? Who manages the building? If a Staffordshire lease has fewer than 80 years it will impact the salability of the property. It is worth checking with your bank that they are content with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth discovering how much this will be. For most Staffordshirelease extensions you would need to own the residence for a couple of years in order to be eligible to carry out a lease extension.