I have a 4 bedroom Victorian property in East Leake. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Yorkshire Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in East Leake and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing lawyer who carried out the work.
I opted to have a survey done on a house in East Leake ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some lenders will not give a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements from Halifax. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in East Leake. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Leake to see if the conveyancing will be more expensive.
What does commercial conveyancing in East Leake cover?
East Leake conveyancing for business premises incorporates a wide range of guidance, supplied by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Last June I purchased a leasehold property in East Leake. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a studio flat in East Leake, conveyancing having been completed in 1999. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in East Leake with a long lease are worth £181,000. The ground rent is £55 yearly. The lease ends on 21st October 2076
With 51 years left to run we estimate the premium for your lease extension to span between £30,400 and £35,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
My conveyancing in East Leake is set to complete this Friday, however the people I am buying off has asked to move out 24 hours later at midday. Do I accept such a plan?
If you are having a loan then your solicitor will insist that the premises arevacant on Friday - the lender will compel it.