Should commercial conveyancing searches reveal planned roadworks that could affect a commercial site in Birkenshaw?
Its becoming the norm that commercial conveyancing solicitors in Birkenshaw will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Birkenshaw. The search result provides 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 Birkenshaw.
For every commercial conveyancing transaction in Birkenshaw it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Birkenshaw commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Birkenshaw.
I purchased my flat on 7 October and my personal details are still not registered. Any reason for this? My conveyancing solicitor in Birkenshaw advises it will be registered inside ten days. Are properties in Birkenshaw uniquely lengthy to register?
As far as conveyancing in Birkenshaw is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry must send notices to any third parties. As of today in the region of 80% of such applications are completed in less than three weeks but some can be subject to longer hold-ups. Registration takes place after the purchaser is living at the premises therefore 'speed' is not usually top priority but where there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking for a flat up to £245,000 and found one near me in Birkenshaw I like with open areas and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Birkenshaw for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
My wife and I purchased a leasehold flat in Birkenshaw. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Birkenshaw who previously acted has now retired. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Birkenshaw conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Birkenshaw Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
The best form of lease arrangement is a share of the freehold. In this scenario the tenants have control and although a managing agent is often employed if the building is bigger than a house conversion, the managing agent is directed by the tenants. Many Birkenshaw leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced by the freeholder. Where you purchase the apartment you will have to meet this liability, usually in instalments accross the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent for you to pay yearly, normally this is not a exorbitant sum, say about £50-£100 but you should to check it because on occasion it could be many hundreds of pounds. How much is the ground rent and service charge?
We are midway through buying a house in Birkenshaw. Conveyancing lawyer has called to say the title is "Leasehold". Does this adversely affect the marketability of the property?
Birkenshaw conveyancing does not normally involve leasehold houses. The key consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to impact the value significantly.
At the other end of the spectrum, if it's, say, 50 years it will have a significant impact on the value, and probably wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease provided to your conveyancer.