We are acquiring our first home. The property lawyer has messagedto ask if we want to purchase supplemental conveyancing searches. Unfortunately we are clueless as to what's needed for conveyancing in Byker and Walker

The extent of Byker and Walker conveyancing searches should be dictated primarily on the property, the location, the likelihood of any of these risks, your familiarity of the area and risks, your overall attitude to risk. What matters is that you adequately appreciate what information the searches could give you. You may then decide if you consider that you need that information. Should you be unsure, ask the lawyer to recommend.

It has been 4 months following my purchase conveyancing in Byker and Walker took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Just had an offer accepted on a new build flat in Byker and Walker. Conveyancing is necessary evil 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 legal work.

Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Byker and Walker

The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.

I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Byker and Walker I like with amenity areas and transport links in the vicinity, however it's only got 51 years on the lease. There is not much else in Byker and Walker in this price bracket, so just wondered if I would be making a mistake buying a short lease?

Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.

I only have 68 years remaining on my lease in Byker and Walker. I am keen to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. For most situations an enquiry agent would be helpful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Byker and Walker.

Leasehold Conveyancing in Byker and Walker - Examples of Queries Prior to Purchasing

It is important to be aware whether fixing the lift or some other major work is pending that will be shared between the leasehold owners and could well materially increase the the service costs or necessitate a specific payment. Where a Byker and Walker lease has no more than eighty years it will affect the salability of the apartment. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the residence for 24 months before you are entitled to exercise a lease extension. How long is the Lease?