Just had an offer accepted on a new build flat in Chippenham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Chippenham
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey completed on a property in Chippenham prior to appointing solicitors. I have been advised that there is a flying freehold element to the property. The surveyor has said that some banks may refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chippenham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am downsizing from my property. My previous lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Chippenham if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Chippenham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
I am looking at a couple of maisonettes in Chippenham both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field.
I own a 1 bedroom flat in Chippenham, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Chippenham with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease ends on 21st October 2078
With only 52 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
There are a number of houses in Chippenham on unadopted roads. We are buying such a house. Are there any benefits to buying a property on a private road?
Chippenham conveyancing firms are well versed in conveyancing houseson private. The conveyancer should review the Land Registry data to find any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners pay into to maintain the road. Where one exists, the road should be maintained and look nicer than council maintained.