A colleague advised me that where I am purchasing in Newall Green I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Newall Green conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Newall Green 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 demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Newall Green Education with maps and statistics, Local Amenities and other useful information regarding Newall Green.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Newall Green I like with open areas and railway links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Newall Green suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. 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 pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
How do I locate a Newall Green law firm on the Yorkshire Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 20miles to meet the lawyer.
Feel free to make use of the tool on this website. Please pick a lender and your location and you will see a number of Newall Green conveyancing lawyers locally. We have listed some Newall Green conveyancing firms towards the end of this page and you can ring them to check if they are on the Yorkshire Building Society member panel
Due to sign contracts shortly on a basement flat in Newall Green. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Newall Green should include some of the following:
Who has the liability to repair and maintain the building. It is important that you know who is duty bound to repair and maintenance of every part of the building You should be told what counts as a Nuisance in the lease Does the lease prevent you from renting out the property, or having a home office for business Details of the parties to the lease, for example these could be the lessee, superior lessor, freeholder The total extent of the demise. This might be the apartment itself but might incorporate a roof space or basement if appropriate.
I inherited a 1 bedroom flat in Newall Green, conveyancing formalities finalised in 2006. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Newall Green with a long lease are worth £175,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2079
With just 58 years unexpired we estimate the price of your lease extension to be between £23,800 and £27,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
Would local authority permission be necessary to split a house into multiple appartments in Newall Green? This has been done to a property opposite to my home in Newall Green and was not aware of it happening until it was complete.
Planning Permission yes. Building Regulations yes.