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

If you are buying a property in Radcliffe your solicitor will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the purchase price then this will be required shortly ahead of contracts are exchanged. The final balance that is due will be payable shortly before completion.

It has been 4 months since my purchase conveyancing in Radcliffe concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 ground for flat up to £195,000 and identified one near me in Radcliffe I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Radcliffe in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a home loan the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.

We expect to complete the sale of our £375,000 flat in Radcliffe next week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Radcliffe?

Radcliffe conveyancing on leasehold apartments more often than not requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Radcliffe Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Who takes charge for maintaining and repairing the building? What restrictions are contained in the Radcliffe Lease?

My wife and I have an offer in principle from Nottingham Building Society who said we could borrow up to £300k. At what point do we need to appoint a lawyer for conveyancing? Radcliffe is where we plan to move to.

You can appoint a lawyer now so that the conveyancer can open the file so they can do the AML checks etc. If and when you wish them to start work they will seek a payment on account normally approximately £225. That should normally be after you have the mortgage offer and survey results, but if you want to speed the process you can get going sooner albeit risking some expense.