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Recently asked questions about conveyancing in Howden

I am acquiring a property for cash in Howden. I have lived for the previous twelve years in Howden. Conveyancing searches are a lot of money. Given that I know the road and vicinity very well must I have all the conveyancing searches?

If you not getting a home loan, then almost all of the Howden conveyancing searches are non-obligatory. Your solicitor will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to do this. One thing to bear in mind; if you are going to sell the house in the future, it could be of interest to your prospective buyer what the searches disclose. Sometimes properties with day to day issues can still throw up negative search results. A competent conveyancing solicitor in Howden should be able to give you some practical guidance concerning this.

Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial premises in Howden?

Many commercial conveyancing solicitors in Howden will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Howden. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Howden.

For each commercial conveyancing transaction in Howden it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Howden commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Howden.

My wife and I purchased a 4 bedroom Georgian property in Howden. Conveyancing solicitor acted for me and Coventry Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?

You should read the Freehold register you have again and check the Charges Register for 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 Howden and other areas of 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 position with your conveyancing practitioner who conducted the purchase.

Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Howden I like with a park and railway links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Howden in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a mortgage that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.

I work for a reputable estate agent office in Howden where we see a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Howden conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I am the registered owner of a leasehold flat in Howden, conveyancing formalities finalised September 2009. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Howden with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2080

With only 56 years left to run we estimate the price of your lease extension to span between £29,500 and £34,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

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