Do the conveyancing practitioners Indexed on your site handle auction conveyancing in Reddish?

There are a few niche practitioners we can put you in touch with those conducting auction conveyancing. Reddish is one of our areas of where our lawyers have offices.

Will my solicitor be asking questions regarding flooding as part of the conveyancing in Reddish.

Flooding is a growing risk for lawyers dealing with homes in Reddish. Plenty of people will purchase a property in Reddish, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.

Conveyancers are not best placed to offer advice on flood risk, but there are a numerous searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Reddish. The standard completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover whether the property has ever been flooded. In the event that the premises has been flooded in past and is not revealed by the owner, then a purchaser may bring a legal claim for losses resulting from an misleading reply. A buyer’s lawyers may also conduct an environmental report. This should disclose whether there is any known flood risk. If so, more detailed investigations will need to be initiated.

Due to the advice of my in-laws I had a survey completed on a house in Reddish ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not give a mortgage on such a premises.

It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Reddish. Conveyancing may be slightly more expensive based on your lender's requirements.

Back In 2003, I bought a leasehold house in Reddish. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Reddish who previously acted has now retired. Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Reddish conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I purchased a ground floor flat in Reddish, conveyancing formalities finalised December 2005. How much will my lease extension cost? Comparable flats in Reddish with a long lease are worth £186,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2077

With only 52 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 plus 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 cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

We own a leasehold flat in Reddish. Conveyancing was finished in last year. I have read on a number of consumer forums that I should not let the lease length get too low. What is the reasoning?

Reddish leasehold properties are for a set period - often just under one hundred years when they started. However many appartments in Reddish were built or converted in the 60’s and so such leases now have less than 80 years left to run. This may sound like a long time but Banks, Building Societies and other mortgage institutions generally require leases to have a minimum of 75 years left to adequate security. This means that when you come to sell the property you will need a lease extension if you are nearing eighty years. To increase your property value you should be thinking about whether to extend your lease long before you come to sell it. There are also significant benefits to doing so before the lease hits 80 years as when the lease falls below eighty years the amount to be paid to extend starts to get a lot more expensive.