Will commercial conveyancing searches reveal impending roadworks that could impact a commercial land in Avonmouth?

Many commercial conveyancing solicitors in Avonmouth will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Avonmouth. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Avonmouth.

For every commercial conveyancing transaction in Avonmouth it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Avonmouth commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Avonmouth.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Avonmouth?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Avonmouth. 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've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Avonmouth is the location of the property. Can you offer any guidance?

Flying freeholds in Avonmouth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Avonmouth you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Avonmouth may ascertain 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.

How do I use the search tool to choose a conveyancing practitioner in Avonmouth on the approved list for my mortgage?

1st pick a lender such as Accord Mortgages Ltd, Bank of Scotland or Godiva Mortgages Ltd then specify your preferred area for example Avonmouth. Conveyancing organisations in Avonmouth and further afield should be identified.

I am tempted by the attractive purchase price for a couple of apartments in Avonmouth which have approximately 50 years unexpired on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Avonmouth 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 marketability of the property. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less marketable. 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 property 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 Avonmouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

Avonmouth Conveyancing for Leasehold Flats - Sample of Queries before buying

Most Avonmouth leasehold flats will incur a service bill for the upkeep of the block levied by the freeholder. If you buy the apartment you will have to pay this charge, usually in instalments accross the year. This could differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met annual, normally this is not a exorbitant figure, say approximately £50-£100 but you need to check as on occasion it can be many hundreds of pounds. How much is the yearly maintenance fee and ground rent? Who manages the building?