Why is leasehold purchase conveyancing in Trowbridge Estate costs more?

In short, leasehold conveyancing in Trowbridge Estate and elsewhere usually requires extra hours of investigation compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord about the service of applicable notices, securing current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.

How does conveyancing in Trowbridge Estate differ for newly converted properties?

Most buyers of new build premises in Trowbridge Estate approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Trowbridge Estate tend to acquire the real estate, 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 used to new build conveyancing in Trowbridge Estate or who has acted in the same development.

I opted to have a survey completed on a house in Trowbridge Estate before instructing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some banks tend not grant a mortgage on such a house.

It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Trowbridge Estate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Trowbridge Estate to see if the conveyancing will be more expensive.

I am a sole trader planning to take over a lease of an office on the high street. Can you recommend lawyers offering fixed fees for non-domestic conveyancing in Trowbridge Estate for less than 2k?

We can recommend firms who have an in-depth of experience of commercial conveyancing in Trowbridge Estate, including the disposal and purchase of businesses as well as simply property. If you are looking to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we can find you the right firm. Regarding the fees these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your details or call so as to enable us to supply you with a detailed commercial conveyancing calculation.

I have just started marketing my 2 bed apartment in Trowbridge Estate. Conveyancing is yet to be initiated, however I have just received a half-yearly service charge demand – Do I pay up?

The sensible thing to do is pay the maintenance contribution as usual given that all rents and service payments should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Leasehold Conveyancing in Trowbridge Estate - A selection of Questions you should ask before Purchasing

How is the lease structured? The answer will be helpful as a) areas can result in problems in the block as the communal areas may start to deteriorate if services are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have all the details