It is is a decade since I acquired my property in Lyneham. Conveyancing lawyers have just been retained on the sale but I can't find my title documents. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be retained by your mortgage company or they may be in the possession of the conveyancers who acted in the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Lyneham involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Lyneham is the location of the property. Is there any advice you can give?
Flying freeholds in Lyneham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lyneham you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lyneham 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 premises.
What does commercial conveyancing in Lyneham cover?
Lyneham conveyancing for business premises covers 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 commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
My brother has encouraged me to use his conveyancers in Lyneham. Should I find my own property lawyer?
No doubt the ideal way to choose a conveyancing solicitor is to have recommendations from friends or family who have experience in using the conveyancer you're considering.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Lyneham. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Lyneham ?
The majority of houses in Lyneham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Lyneham so you should seriously consider shopping around for a Lyneham conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
I acquired a garden flat in Lyneham, conveyancing formalities finalised September 1995. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Lyneham with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2069
With only 50 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.