Why is leasehold purchase conveyancing in Woodley is more expensive?

Woodley leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I am thinking of refinancing my house in Woodley, does my lawyer need to be on the Nottingham Solicitor panel?

There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I own a semi-detached Edwardian house in Woodley. Conveyancing solicitor represented me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?

You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing solicitor who conducted the work.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Woodley is where the house is located. What do you suggest?

Flying freeholds in Woodley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodley you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodley 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 property.

Having had my offer accepted I require leasehold conveyancing in Woodley. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is registered - and 99.9% are in Woodley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Leasehold Conveyancing in Woodley - A selection of Questions you should consider Prior to buying

What is the length of the lease? You will want to discover as much as possible regarding the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to day to day issues like the cleanliness of the common parts. You should not be afraid to ask prospective neighbours if they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. How much is the maintenance charge and ground rent on the property?