Can you explain why leasehold purchase conveyancing in Bassaleg costs more?

Bassaleg leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I need some fast conveyancing in Bassaleg as I have an ultimatum to sign on the dotted line within one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?

As you are not taking a home loan you have the choice not to have searches conducted although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Bassaleg the following are examples of what can show up and therefore affect the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...

About to purchase a new build flat in Bassaleg. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bassaleg

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.

I opted to have a survey done on a property in Bassaleg in advance of appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies may not give a mortgage on a flying freehold home.

It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via 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 Bassaleg. Conveyancing may be slightly more expensive based on your lender's requirements.

I am attracted to a couple of maisonettes in Bassaleg both have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Bassaleg. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and it becomes more costly to extend the lease. For this reason it is generally wise 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 enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area.

I own a 2 bed flat in Bassaleg, 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? Similar flats in Bassaleg with a long lease are worth £165,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2102

With just 77 years left to run we estimate the price of your lease extension to range between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.