Willappointing a Northfleet conveyancing practice make the home moving process easier?
Northfleet is a unique place, where regional know-how helps. The laid-back lifestyle is great – but not for your house move. The property lawyers that we endorse host a wealth of Northfleet knowledge with a positive, can doapproach that ensures the conveyancing to progress without drama. It will certainly help that they enjoy established relationships with financial advisers, estate agents, surveyors and counterpart Northfleet conveyancing practices
Please explain the implications if my lawyer’s firm is suspended from the Coventry BS Solicitor panel ahead of completing my conveyancing in Northfleet?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My friend recommended that if I am buying in Northfleet I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Northfleet conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Northfleet around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Northfleet Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data about Northfleet.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Northfleet is where the house is located. Can you shed any light on this issue?
Flying freeholds in Northfleet are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Northfleet you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northfleet may determine 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.
I am looking at a couple of flats in Northfleet which have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Northfleet is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with less than eighty years become less and less marketable. 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 property 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 Northfleet conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.
Northfleet Leasehold Conveyancing - Examples of Queries before buying
Is there a share of the freehold? The prefered form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this scenario the tenants enjoy control and although a managing agent is frequently retained if the building is larger than a house conversion, the managing agent employed by the leaseholders.