I am purchasing a terraced house in Oughtibridge. Can I do my own conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Oughtibridge you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Oughtibridge.

I require quick conveyancing in Oughtibridge as I have pressure to complete in less than 4 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?

As you are are a cash purchaser you are at liberty not to have searches conducted although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Oughtibridge the following are examples of what can appear and therefore impact future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Unadopted Roads,...

The deeds to my home can not be found. The conveyancers who conducted the conveyancing in Oughtibridge 5 years ago are no longer around. What are my options?

In today’s world there are duplicates made of almost everything, and your conveyancer will know exactly where to locate all the appropriate paperwork so you can buy or sell your house without any difficulty. Where copies can’t be located, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on the property.

In what way does the Landlord & Tenant Act 1954 affect my business premises in Oughtibridge and how can you help?

The particular law that you refer to gives security of tenure to business lessees, giving them the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Oughtibridge

I am tempted by the attractive purchase price for a two flats in Oughtibridge both have about fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Oughtibridge is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Oughtibridge conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a 2 bed flat in Oughtibridge, conveyancing having been completed 7 years ago. How much will my lease extension cost? Equivalent flats in Oughtibridge with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2075

With just 50 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should 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.