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Recently asked questions about conveyancing in Leeswood

I am downsizing from our home in Leeswood and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using an internet conveyancing practice rather than a conveyancing solicitor in Leeswood. We have lived in Leeswood for many years we know of no issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.

It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

How does conveyancing in Leeswood differ for new build properties?

Most buyers of new build or newly converted property in Leeswood come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Leeswood usually purchase the land, 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 Leeswood or who has acted in the same development.

How does the Landlord & Tenant Act 1954 affect my commercial offices in Leeswood and how can you help?

The particular law that you refer to provides protection to commercial tenants, granting the right to make a request to court for a new lease and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Leeswood

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200,000 garden flat in Leeswood on Friday in a week. The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Leeswood?

Leeswood conveyancing on leasehold apartments nine out of ten times necessitates administration charges raised by landlords agents :

    Answering pre-contract questions Where consent is required before sale in Leeswood Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Leeswood leasehold property is £350. For Leeswood conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I inherited a leasehold flat in Leeswood, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Leeswood with an extended lease are worth £180,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2078

With 59 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

I own a leasehold flat in Leeswood. Conveyancing was completed in 2009. I have read on a number of consumer forums that I should not allow the the remaining lease term to fall too low. Is this correct?

Leeswood residential long term leases are for a prescribed term - normally just under one hundred years when they started. However many flats in Leeswood were constructed or converted 35 or more years ago and so these leases now have less than 80 years unexpired. That may seem like a long time however Banks, Building Societies and other mortgage institutions tend to require leases to have at least 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To increase your property value you should be thinking about whether to extend your lease well in advance of selling the property. There are also strong financial reasons to doing so before the lease hits 80 years as when the lease falls below 80 years the amount you have to pay to extend starts to escalate.

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