Can you explain why leasehold purchase conveyancing in Belford is more expensive?

The conveyancing fees on a leasehold premises in Belford is inevitably greater than on a freehold transaction. This is because there is an amount of additional investigations necessary in liaising with the landlord and management company to collate the information concerning whether the rent and service fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.

I am purchasing a property and require a conveyancing solicitor in Belford who is on the National Westminster Bank solicitor. Could you point me in the right direction as regards a solicitor?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Belford. We dont recommend any particular firm.

I am buying a new build apartment in Belford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Belford

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied 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?

I decided to have a survey completed on a house in Belford before appointing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend refuse to give a loan on such a house.

It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Belford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Belford to see if the conveyancing costs will increase in light of this.

Helen (my wife) and I may need to rent out our Belford ground floor flat temporarily due to a new job. We used a Belford conveyancing firm in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

A lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Belford do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I purchased a basement flat in Belford, conveyancing was carried out April 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Belford with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2089

You have 64 years left to run we estimate the premium for your lease extension to span between £14,300 and £16,400 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.