I am selling my apartment in Burwell. Does the lawyer have to be required to be on the UBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
Just had an offer accepted on a new build apartment in Burwell. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Burwell
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Burwell is where the house is located. Can you offer any assistance?
Flying freeholds in Burwell are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burwell you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burwell may decide 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.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Burwell and how can you help?
The particular law that you refer to gives security of tenure to commercial lessees, giving them the right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Burwell is one of the many areas of the UK in which our lawyers are based
If all goes to plan we aim to complete the disposal of our £450,000 apartment in Burwell in nine days. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Burwell?
Burwell conveyancing on leasehold apartments often involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty to charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I inherited a 1st floor flat in Burwell, conveyancing was carried out August 2003. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Burwell with an extended lease are worth £195,000. The ground rent is £45 per annum. The lease ends on 21st October 2086
With only 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.