Why do I have to pay up front for my conveyancing in Surbiton?

If you are buying a property in Surbiton your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the conveyancing searches. When the down payment is payable against the sale price then this should be required shortly before contracts are exchanged. Any further balance that is needed will be payable shortly before completion.

I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Surbiton I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Surbiton suitable, so just wondered if I would be making a mistake acquiring a short lease?

Should you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension 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 speak to your conveyancing lawyer concerning this.

I was advised by a few estate agents in Surbiton to choose a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to recommend your lawyers rather than a competitor’s?

We don’t give any commission for directing people our way. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

Harry (my fiance) and I may need to sub-let our Surbiton garden flat temporarily due to a new job. We instructed a Surbiton conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

The lease governs relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Surbiton do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Surbiton Leasehold Conveyancing - Sample of Questions you should consider before buying

How long is the Lease? Is the freehold owned collectively by the leaseholders? What is the yearly maintenance fee and ground rent?

At what point do I pay the Stamp Duty Land Tax chargeable for my conveyancing in Surbiton?

Most s will complete a stamp duty return for you during your Surbiton purchase transaction for signature. After completion your will submit your Land Transaction application to the Inland Revenue and - assuming they have the money - discharge any land tax liability for you.