A friend advised me that if I am purchasing in Leicestershire I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Leicestershire conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Leicestershire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Leicestershire Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Leicestershire.
How does conveyancing in Leicestershire differ for new build properties?
Most buyers of new build or newly converted property in Leicestershire contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Leicestershire 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 conveyancers 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 accustomed to new build conveyancing in Leicestershire or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Leicestershire is where the house is located. Can you offer any advice?
Flying freeholds in Leicestershire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leicestershire you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leicestershire may decide 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.
Should I choose a Leicestershire conveyancing lawyer based in the location that I am buying? We have a good friend who can perform the conveyancing but her office is approximately 350miles away.
The primary upside of using a high street Leicestershire conveyancing firm is that you can attend the office to sign documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and they were content that must trump using an unknown Leicestershire conveyancing solicitor just because they are local.
Expecting to sign contracts shortly on a studio apartment in Leicestershire. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Leicestershire should include some of the following:
Alterations to the premises Does the lease require carpeting throughout thus preventing wood flooring? Repair and maintenance of the flat You should have a good understanding of the insurance provisions Does the lease prevent you from subletting the property, or working from home
I invested in buying a 1 bedroom flat in Leicestershire, conveyancing formalities finalised in 2006. How much will my lease extension cost? Equivalent properties in Leicestershire with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2073
With just 54 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.