Recently been in touch with my conveyancing lawyer in Harold Wood who completed the legal work two years ago asking for a conveyancing costs illustration based on the same type of house sale & purchase (a leasehold residence and a freehold premises) of similar values with a loan from Nationwide Building Society. I am now being quoted twice the amount. Am I right to be tempted to shop around for an alternative firm of conveyancing solicitor?
The quote is slightly on the high side. Where you are happy to expend time comparing prices you might get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, if you were happy with the legal work the firm offered you mightcome to rue opting for an an unknown solicitor. Remember to ensure that the conveyancer can also act for Nationwide Building Society. Do employ our search tool to choose a Harold Wood conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Harold Wood.
A colleague advised me that where I am buying in Harold Wood I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Harold Wood conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Harold Wood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Harold Wood.
My wife and I purchased a 4 bedroom Georgian house in Harold Wood. Conveyancing lawyer acted for me and Halifax. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess 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 Harold Wood and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who conducted the work.
About to purchase a new build flat in Harold Wood. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Harold Wood
There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
We own a leasehold flat in Harold Wood. Conveyancing was finished in last year. I have heard that I mustn’t allow the the remaining lease term to get too low. Why is that a problem?
Harold Wood domestic long term leases are for a fixed period - normally ninety nine years when they are first granted. However many appartments in Harold Wood were built or converted in the 60’s and so these leases now have less than eighty years unexpired. That may seem like plenty of time however Banks, Building Societies and other mortgage companies tend to need leases to have a minimum of 75 years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To maximise your property value you should be considering whether or not to extend your lease well in advance of selling the property. There are also significant benefits to taking action before the lease reaches even eighty years as when the lease falls below eighty years the amount you have to pay to extend starts to increase.