I am in need of a conveyancer. Should I go for for a nationwide conveyancer rather than a high street Budleigh Salterton conveyancing solicitor?
Existing third party connections are another important factor to consider when choosing conveyancing solicitors. Budleigh Salterton conveyancers enjoy connections with financial advisers and property, local authorities, surveyors and other law firms meaning you will move in shortest possible time. Having vast knowledge of the local area is an advantage.
Should our conveyancer be asking questions regarding flooding during the conveyancing in Budleigh Salterton.
Flooding is a growing risk for lawyers specialising in conveyancing in Budleigh Salterton. There are those who purchase a house in Budleigh Salterton, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Budleigh Salterton. The standard information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine if the property has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the seller, then a buyer may commence a legal claim for losses resulting from an incorrect answer. The buyer’s solicitors may also carry out an enviro report. This should disclose if there is any known flood risk. If so, further inquiries should be conducted.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Budleigh Salterton I like with amenity areas and transport links nearby, however it's only got 61 years unexpired on the lease. There is not much else in Budleigh Salterton suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I own a leasehold flat in Budleigh Salterton. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Budleigh Salterton who previously acted has now retired. Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Budleigh Salterton conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a split level flat in Budleigh Salterton, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding properties in Budleigh Salterton with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2090
With 69 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
We are in the process of selling our flat in Budleigh Salterton. Conveyancing lawyers are doing their job but we have been asked to pay an extortionate amount from the managing agents. So far we have paid £268 for a leasehold management information and then a further £117.20 for answers to queries supplied by the buyers conveyancing practitioner.
Neither you or your conveyancer will have any say over the extent of the bill for this information but the typical fee for the information for Budleigh Salterton leasehold property is £360. When it comes to Budleigh Salterton conveyancing sales it is usual for the owner to pay for these charges. The freeholder or their agents are not duty bound to answer these questions although many will be willing to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no legislation that requires fixed fees for administrative tasks. Neither is there any set time limit by which they are required to supply answers.