I purchased a 4 bedroom Georgian property in Fradley. Conveyancing practitioner represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Fradley 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 purchasers. You can also check the position with your conveyancing solicitor who completed the work.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Fradley is where the house is located. Is there any guidance you can give?
Flying freeholds in Fradley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fradley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fradley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing practitioner in Fradley for my home move. Is there any facility to review a firm’s complaints history with the legal regulator?
Anyone can see presented Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA may recorded telephone calls for training reasons.
What makes a Fradley lease unmortgageable?
Leasehold conveyancing in Fradley is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
A duty to insure the building Clauses dealing with recovering service charges for expenditure on the building or common parts.
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I inherited a 1st floor flat in Fradley, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Fradley with over 90 years remaining are worth £202,000. The ground rent is £60 levied per year. The lease runs out on 21st October 2075
You have 57 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should 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 clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
My plan is to acquire a garden flat in Fradley. Conveyancing solicitor has been awaiting, from the owner, building insurance paperwork. Earlier today I was informed that the owner must send the insurance paperwork for the flat above also. Why does my property lawyer want to review the insurance for the flat above? Is it strictly required? We have been waiting for the previous two weeks…
It is not unheard of in leasehold conveyancing in Fradley to discover Conveyancing in Fradley in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the landlord insuring the whole building - which is definitely better. Do contact your conveyancing practitioner but it would appear that your conveyancing practitioner is seeking to verify that the entire building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt due to lack of insurance cover.