I require conveyancing for an apartment in a fairly new development (6 years old) in Bozeat. The vast majority the properties are already sold. Do I need carry out the local searches as part of conveyancing in Bozeat?
Where you are obtaining a mortgage, your bank will require some (many) of the searches so you'll have no choice. If not, then Bozeat conveyancing searches are for you to decide upon. Your solicitor, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Bozeat.
A colleague recommended that where I am buying in Bozeat I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Bozeat conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Bozeat around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bozeat Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Bozeat.
How does conveyancing in Bozeat differ for newly converted properties?
Most buyers of new build or newly converted property in Bozeat approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Bozeat usually buy 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 property lawyers 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 Bozeat or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Bozeat prior to appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders may not give a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bozeat. Conveyancing may be slightly more expensive based on your lender's requirements.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Bozeat. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Bozeat ?
Most houses in Bozeat are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Bozeat in which case you should be looking for a Bozeat conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
I inherited a split level flat in Bozeat, conveyancing was carried out in 2005. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bozeat with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 levied per year. The lease finishes on 21st October 2071
You have 51 years remaining on your lease we estimate the price of your lease extension to be between £30,400 and £35,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.