Is there a reason why leasehold purchase conveyancing in Broxbourne is more expensive?

Broxbourne leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I have recentlybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Broxbourne for a purchase of a leasehold flat 9 months ago. How can I be sure that the property is in my name in the name of the previous owner?

The quickest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Broxbourne conveyancing specialists.

How does conveyancing in Broxbourne differ for new build properties?

Most buyers of new build premises in Broxbourne come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Broxbourne tend to acquire the land, 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 conveyancers 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 used to new build conveyancing in Broxbourne or who has acted in the same development.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Broxbourne. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Broxbourne are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Broxbourne so you should seriously consider looking for a Broxbourne conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I am the registered owner of a split level flat in Broxbourne, conveyancing having been completed in 1996. How much will my lease extension cost? Comparable flats in Broxbourne with over 90 years remaining are worth £176,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2075

With 50 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

Can I find out who owns a property in Broxbourne?

Assuming that the premises is registered with the Land Registry, and you have sufficient specifics of the address of the premises, you will be able to see results from the HMLR of the registered owner for a for less than a fiver.