Is there a reason why leasehold purchase conveyancing in Aldridge is more expensive?

In short, leasehold conveyancing in Aldridge and Birmingham usually necessitates more due diligence compared to freehold transactions. This includes reviewing the lease, communicating with the landlord concerning the service of appropriate notices, obtaining current service charge and management information, securing 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 granted.

Various online forums that I have frequented warn that are a common cause of stalling in Aldridge conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Aldridge.

It has been 2 months following my purchase conveyancing in Aldridge concluded. I have checked the Land Registry site which shows that I paid £175,000 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 premises 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.

Just had an offer accepted on a new build apartment in Aldridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Aldridge

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.

Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Aldridge I like with a park and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Aldridge for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.