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

Where you are retaining lawyers for conveyancing in Newquay your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. Generally this is called for to cover the fees of the Local Authority Search. When the down payment is as part of the sale price then this should be asked for shortly in advance of contracts are exchanged. The final balance that is due will be payable shortly before completion.

A colleague recommended that where I am buying in Newquay I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally quoted for as part of the standard Newquay conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Newquay around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Newquay Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Newquay.

2 months have gone by following my purchase conveyancing in Newquay completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Newquay I like with amenity areas and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Newquay in this price bracket, so just wondered if I would be making a mistake buying a short lease?

If you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.

My wife and I purchased a leasehold house in Newquay. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Newquay who previously acted has now retired. Do I pay?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Newquay conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I invested in buying a garden flat in Newquay, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Newquay with a long lease are worth £260,000. The ground rent is £45 yearly. The lease expires on 21st October 2098

You have 74 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.