My 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?

A search of this type is usually included in the estimate for your Leicestershire conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Leicestershire around the property and the people living there. It includes 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 House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Leicestershire.

How does conveyancing in Leicestershire differ for newly converted properties?

Most buyers of new build residence in Leicestershire approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Leicestershire tend to acquire 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 accustomed to new build conveyancing in Leicestershire or who has acted in the same development.

I have been on the look out for a ground for flat up to £245,000 and identified one near me in Leicestershire I like with amenity areas and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Leicestershire for this price, so just wondered if I would be making a grave error acquiring a short lease?

Should you need a home loan that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities 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 concerning this matter.

Do I need to be suspicious that 3rd parties that I am dealing with are recommending an internet conveyancing firm as opposed to a local Leicestershire conveyancing company?

As is the case with lots of professional services, often input from family and friends can be very helpful. Yet there are numerous parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to retain. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the discretion to choose your preferred conveyancer. You need to be aware that most mortgage providers operate an approved list of conveyancers you must use for the mortgage related work in your house move.

Due to sign contracts shortly on a studio apartment in Leicestershire. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Leicestershire should include some of the following:

The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Will you be prohibited or prevented from having pets in the property? Whether the lease restricts you from renting out the property, or having a home office for business Who has the liability to repair and maintain the building. It is essential for you to know who is liable for the repair and maintenance of every part of the building

Leicestershire Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

How much is the maintenance charge and ground rent on the property? You will want to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day issues like the cleanliness of the common parts. Enquire of prospective neighbours if they are happy with their management. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. In the main the cost for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Leicestershire require leaseholders to contribute towards a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance.