It has been five months since my purchase conveyancing in Burgess Hill concluded. I have checked the Land Registry website which shows that I paid £150,000 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 asset 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.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Burgess Hill is where the house is located. Can you shed any light on this issue?
Flying freeholds in Burgess Hill are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burgess Hill you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burgess Hill may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm remortgaging my primary house to a buy to let mortgage with Barclays Direct and I will use the rest of the raised equity towards further house. The area we are interested in is Burgess Hill. Will your lawyers be able to act for both sets of banks and link together the conveyances?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. Assuming that they are the lawyer will be able to connect the two conveyancing matters but you should talk with you solicitor and make clear your desired outcome and requirements.
I am employed by a long established estate agent office in Burgess Hill where we have witnessed a number of flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Burgess Hill conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a garden flat in Burgess Hill, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Burgess Hill with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2088
With only 70 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
What type of property do your Burgess Hill conveyancing quotes apply to?
Our conveyancing quotes are only appropriate to standard residential property in England & Wales. Should you have any different needs for example industrial or agricultural property or commercial conveyancing in Burgess Hill please telephone us to discuss this further .