It is is a decade since I bought my property in Finchampstead. Conveyancing solicitors have now been retained on the sale but I am unable to find the deeds. Is this a problem?
You need not be too concerned. First the deeds may be kept by the lender or they could stored with the lawyers who acted in your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Finchampstead involves registered property but in the rare situation where your property is not registered it is more problematic but is not insurmountable.
I have an AIP. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to use a Finchampstead based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you take up the "fee-free" offer. Call the mortgage company and ask if they make available a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Finchampstead.
Are there restrictive covenants that are commonly identified as part of conveyancing in Finchampstead?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Finchampstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the input of my in-laws I had a survey completed on a property in Finchampstead prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders may not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Finchampstead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Finchampstead to see if the conveyancing will be more expensive.
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Finchampstead. I now want to get lease extension but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. In some cases an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Finchampstead.
I acquired a basement flat in Finchampstead, conveyancing having been completed November 2005. How much will my lease extension cost? Comparable properties in Finchampstead with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2099
You have 80 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously 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.