Why is leasehold purchase conveyancing in Oxfordshire costs more?
Oxfordshire leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
How does conveyancing in Oxfordshire differ for newly converted properties?
Most buyers of new build premises in Oxfordshire approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Oxfordshire usually buy the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Oxfordshire or who has acted in the same development.
Am I right to be suspicious by 3rd parties that I am dealing with are suggesting an online conveyancing firm rather than a local Oxfordshire conveyancing company?
As with many service providers, often referrals from relatives can be very helpful. But there are numerous people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend solicitors to use. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the recommendation. You are free to select your preferred lawyer. Don't forget that many lenders operate an approved list of solicitors you have to use for the lender aspect of your transaction.
I have recently realised that I have 68 years remaining on my flat in Oxfordshire. I now wish to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. For most situations an enquiry agent should be useful to try and locate and to produce a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Oxfordshire.
I inherited a garden flat in Oxfordshire, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Oxfordshire with an extended lease are worth £179,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2077
You have 57 years remaining on your lease the likely cost is going to be between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
I happen to be an executor of my recently deceased parent's Will, with a property in Oxfordshire which will be marketed. The bungalow is unregistered at HMLR and I'm told that some estate agents will insist that it is done before they'll move forward. What's the procedure for this?
In the circumstances that you have set out it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.