Me and my brother own a terraced Victorian property in Sewardstonebury. Conveyancing practitioner acted for me and Barnsley Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. Is it worth asking Barnsley Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sewardstonebury and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who completed the work.
About to purchase a new build flat in Sewardstonebury. Conveyancing is a frightening process 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.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Sewardstonebury
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am selling my house. My former lawyers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Sewardstonebury if that makes a difference.
Please use our search tool to help you find a solicitor for your conveyancing in Sewardstonebury. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
Can you provide any top tips for leasehold conveyancing in Sewardstonebury from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Sewardstonebury can be avoided where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers’ conveyancers. A minority of Sewardstonebury leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Organising a duplicate share certificate is often a time consuming process and delays many a Sewardstonebury conveyancing transaction. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
I acquired a leasehold flat in Sewardstonebury, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Sewardstonebury with a long lease are worth £180,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2083
With just 58 years remaining on your lease we estimate the price of your lease extension to be between £22,800 and £26,400 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 supply the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
Do I stop the direct debit for my mortgage with Lloyds as soon as a completion date for my sale in Sewardstonebury has been agreed?
No, you must maintain paying any mortgage sums to Lloyds pending the mortgage being paid off from the proceeds of sale as part of your Sewardstonebury conveyancing.