How does conveyancing in Lozells differ for newly converted properties?

Most buyers of new build property in Lozells come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Lozells typically purchase the real estate, 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 conveyancing solicitors 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 Lozells or who has acted in the same development.

I opted to have a survey carried out on a property in Lozells prior to retaining solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders may refuse to give a mortgage on a flying freehold property.

It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you e-mail us we can check with 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 Lozells. Conveyancing may be slightly more expensive based on your lender's requirements.

What does commercial conveyancing in Lozells cover?

Commercial conveyancing in Lozells incorporates a wide array of guidance, provided by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

My uncle has recommend that I appoint his lawyers for conveyancing in Lozells. Should I choose my own conveyancer?

Much as we are happy to recommend a Lozells conveyancing lawyer the best way to choose a conveyancing solicitor is to have recommendations from friends or relatives who have used the conveyancer that you are considering.

I am employed by a busy estate agency in Lozells where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Lozells conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that 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. The benefit of this is that the buyer need not have 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 at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

Lozells Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

The majority of Lozells leasehold properties will incur a service charge for maintenance of the block set by the management company. Should you purchase the apartment you will have to pay this contribution, usually periodically accross the year. This could be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a significant sum, say approximately £25-£75 but you need to check it because occasionally it can be many hundreds of pounds. What restrictions exist in the Lozells Lease? This information is important as a) areas can cause problems in the block as the common areas may begin to deteriorate where services remain unpaid b) if the tenants have an issue with the running of the building you will want to know about it