Do the Building Society Association intend to launch a searchable register to list law firms on the Earl Shilton BS conveyancing panel for instance in Muxton?

Lexsure has not been advised of any plans on the part of the BSA to develop such a tool.

Just acquired a detached house in Muxton , how long will it take for the Land Registry to register my ownership? My Muxton conveyancing solicitor has been very slow, so I want to check the registration is dealt with.

There is nothing unique when it comes to conveyancing in Muxton registration formalities. As opposed to being determined by geographic area, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd persons or bodies. As of today roughly 80% of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Registration takes place after the new owner is living at the property therefore 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.

How does conveyancing in Muxton differ for new build properties?

Most buyers of new build property in Muxton come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because builders in Muxton usually buy the land, 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 conveyancers 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 used to new build conveyancing in Muxton or who has acted in the same development.

I am tempted by the attractive purchase price for a two apartments in Muxton which have in the region of forty five years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Muxton is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Muxton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Muxton Leasehold Conveyancing - Examples of Queries Prior to buying

How is the lease structured? How much is the ground rent and service charge? This question is important as a) areas may result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will need to know about it

How do I determine who is the owner of a property in Muxton?

Provided the property is registered with HM Land Registry, and you have sufficient details of the location of the premises, you should be able to obtain results from the HMLR of the registered owner for a fee.