Why do I have to pay up front for conveyancing in Goddington?

Where you are retaining lawyers for conveyancing in Goddington your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the Local Authority Search. When the down payment is payable against the purchase price then this should be required immediately before exchange of contracts. The closing balance that is due will be payable shortly before completion.

How does conveyancing in Goddington differ for new build properties?

Most buyers of new build property in Goddington come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Goddington tend to buy 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 property lawyers 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 used to new build conveyancing in Goddington or who has acted in the same development.

I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Goddington I like with amenity areas and station in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Goddington suitable, so just wondered if I would be making a grave error buying a short lease?

If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.

My father has suggested that I appoint his lawyers for conveyancing in Goddington. Do I follow his recommendation?

No doubt the best way to find a conveyancing practitioner is to seek recommendations from friends or relatives who have experience in using the conveyancer that you are contemplating using.

Back In 2007, I bought a leasehold flat in Goddington. Conveyancing and mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Goddington who acted for me is not around. Any advice?

First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Goddington conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I purchased a ground floor flat in Goddington, conveyancing having been completed in 1995. How much will my lease extension cost? Similar flats in Goddington with over 90 years remaining are worth £165,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 50

With just 50 years remaining on your lease the likely cost is going to be between £36,100 and £41,800 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.