My wife and I have a renovated Georgian house in Eaton Bray. Conveyancing practitioner represented me and The Mortgage Works. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
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 Eaton Bray and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
How does conveyancing in Eaton Bray differ for new build properties?
Most buyers of new build property in Eaton Bray come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Eaton Bray typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eaton Bray or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Eaton Bray I like with open areas and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Eaton Bray in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I need to find a conveyancing solicitor for purchase conveyancing in Eaton Bray. I've land on a site which looks to be the ideal offering If there is a chance to get all this stuff done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Should I cancel the direct debit for my mortgage with TSB once a completion date for my home sale in Eaton Bray has been set?
You would be well advised to continue meeting any mortgage payments to TSB pending the mortgage being redeemed out of the proceeds of sale as part of your Eaton Bray conveyancing.