Can your site be used to find a Conveyancing solicitor in Bottesford even if I’m not purchasing or selling a house, for example if I wish to acquire a shop in Bottesford with a loan from Nationwide Building Society?

Our comparison service is mainly used to get a quote from residential conveyancing solicitors in Bottesford but we have recorded towards the end of this page a few Bottesford commercial conveyancing firms. You should speak with the firm directly to check if they are also authorised to represent Nationwide Building Society

Are there restrictive covenants that are commonly identified during conveyancing in Bottesford?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Bottesford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How does conveyancing in Bottesford differ for new build properties?

Most buyers of new build premises in Bottesford approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Bottesford typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bottesford or who has acted in the same development.

What does commercial conveyancing in Bottesford cover?

Non domestic conveyancing in Bottesford incorporates a wide range of guidance, supplied by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.

I am attracted to a couple of maisonettes in Bottesford which have about 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Bottesford is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bottesford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Bottesford - Examples of Questions you should ask Prior to buying

The prefered form of lease structure is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and even though a managing agent is usually retained where it is larger than a house conversion, the managing agent is directed by the tenants. It is important to be aware if redecorating or some other significant cost is coming up to be shared amongst the tenants and could well materially increase the the maintenance costs or necessitate a specific invoice.