Do commercial conveyancing searches reveal planned roadworks that could impact a commercial land in Lakenham?

Many commercial conveyancing solicitors in Lakenham will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Lakenham. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Lakenham.

For every commercial conveyancing transaction in Lakenham it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Lakenham commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Lakenham.

How does conveyancing in Lakenham differ for new build properties?

Most buyers of new build property in Lakenham approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Lakenham tend to buy the site, 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 property lawyers 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 accustomed to new build conveyancing in Lakenham or who has acted in the same development.

Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Lakenham is the location of the property. What do you suggest?

Flying freeholds in Lakenham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lakenham you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lakenham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

How do I identify a Lakenham solicitor on the Halifax conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the conveyancer.

Feel free to make use of the tool on this website. Please pick a mortgage company and your location and you will see a number of Lakenham conveyancing lawyers located nearest you. We have detailed some Lakenham conveyancing firms towards the end of this page and you can contact them to verify whether they are on the Halifax member panel

I am attracted to a two apartments in Lakenham both have in the region of forty five years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.

I own a basement flat in Lakenham, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Lakenham with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2079

With just 55 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.