It is is a decade since I acquired my property in Farnham Royal. Conveyancing solicitors have recently been retained on the sale but I am unable to track down my deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be with the lender or they could stored with the conveyancers who oversaw your purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Farnham Royal involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
We're in Farnham Royal, FTBs purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been on the look out for a flat up to £305k and identified one close by in Farnham Royal I like with open areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Farnham Royal for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
Expecting to exchange soon on a ground floor flat in Farnham Royal. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Farnham Royal should include some of the following:
Defining your rights in relation to the communal areas in the building.By way of example, does the lease contain a right of way over an accessway or hallways? Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Where does the liability rest to repair and maintain the building. It is essential that you know who is duty bound to repair and maintenance of all parts of the block and estate The length of the lease term. You should receive guidance as what happens when the lease ends, and informed of the importance of the 80 year mark Who has the liability for repairing the window frames
I inherited a basement flat in Farnham Royal, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Farnham Royal with over 90 years remaining are worth £222,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2090
With 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously 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.
My husband is purchasing a leasehold property in Farnham Royal. Conveyancing estimates are coming in at around £1800. Is that in the right ballpark?
The average fee last year for conveyancing in Farnham Royal was £1,419 not including Land Tax and Land Registry fees.