Willretaining a Cranfield conveyancing lawyer make my purchase more efficient?

In the main conveyancing practitioners in your area will have excellent relationships with your local authority, which can assist with the Cranfield conveyancing searches that your lawyer will inevitably need. It also helps if they enjoy strong relationships with the Local Land Registry Office your area Cranfield, other property lawyers in the neighbourhood and Cranfield Estate Agents.

How does conveyancing in Cranfield differ for new build properties?

Most buyers of new build property in Cranfield come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Cranfield tend to purchase the site, 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 accustomed to new build conveyancing in Cranfield or who has acted in the same development.

I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Cranfield I like with open areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Cranfield suitable, so just wondered if I would be making a mistake buying a short lease?

If you need a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.

In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Cranfield and how can you help?

The 1954 Act provides security of tenure to commercial lessees, giving them the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Cranfield

Do you have any top tips for leasehold conveyancing in Cranfield from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Cranfield can be avoided if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Cranfield conveyancing transaction. If a duplicate share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity. Some Cranfield leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Leasehold Conveyancing in Cranfield - Examples of Questions you should ask before Purchasing

Is anyone aware of any major works on the horizon that will likely increase the maintenance charges? How much is the yearly maintenance fee and ground rent?