Why is leasehold purchase conveyancing in Martlesham costs more?

The conveyancing charges for a leasehold premises in Martlesham is inevitably higher than on a freehold transaction. This is because there is an amount of additional investigations necessary in corresponding with the landlord and management company to collate the evidence about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Martlesham?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Martlesham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am buying a new build flat in Martlesham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Martlesham

Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Martlesham I like with open areas and transport links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Martlesham suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?

Should you need a mortgage that many years will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

My parents cant seem to find their Martlesham land registry title on the website. They recall that back in the 70’s when they purchased the bungalow there were complications with the address not being recognised in some systems.

Nearly all properties in Martlesham should be revealed. Have you limited your search with simply the postcode. Ordinarily it will mention all the houses and flats inside the postcode. Where registered it will show up with a title number. Where they bought back in the 60’s it's conceivable it may be not yet registered. The property might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title papers which might be with your parent’s mortgage company.