Is there a reason why leasehold purchase conveyancing in Little Hampton costs more?
In summary, leasehold conveyancing in Little Hampton and Worcestershire usually necessitates more work compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord concerning the service of appropriate notices, procuring current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My relative recommended that if I am purchasing in Little Hampton 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 occasionally included in the estimate for your Little Hampton conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Little Hampton around the property and the people living there. It includes 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, Little Hampton Education with plans and statistics, Local Amenities and other useful information about Little Hampton.
Due to the input of my in-laws I had a survey completed on a house in Little Hampton prior to appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies tend not grant a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Little Hampton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Little Hampton to see if the conveyancing costs will increase in light of this.
My father-in-law has recommend that I use his conveyancing solicitors in Little Hampton. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing lawyer is to seek referrals from friends or family who have actually used the solicitor you're considering.
Can you provide any advice for leasehold conveyancing in Little Hampton from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Little Hampton can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers’ representatives. Many landlords or Management Companies in Little Hampton charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Little Hampton. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Little Hampton state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer before hand. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a duplicate share certificate can be a lengthy process and slows down many a Little Hampton conveyancing deal. If a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later. You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I purchased a 2 bed flat in Little Hampton, conveyancing was carried out in 2002. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Little Hampton with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2091
You have 72 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously 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.