My wife and I purchased a semi-detached Edwardian property in Porthleven. Conveyancing solicitor acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking Leeds Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Porthleven and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Porthleven differ for new build properties?
Most buyers of new build or newly converted property in Porthleven approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Porthleven tend to purchase 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 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 accustomed to new build conveyancing in Porthleven or who has acted in the same development.
How do I identify a Porthleven solicitor on the Britannia conveyancing panel? I have wheels and am willing to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the search on this website. Please select a bank and your location and you will see a number of Porthleven conveyancing lawyers locally. We have listed some Porthleven conveyancing firms towards the end of this page and you can call them to verify whether they are on the Britannia approved list
Am I best advised to appoint a Porthleven conveyancing lawyer based in the area that I am purchasing? I have an old university friend who can carry out the conveyancing however they are based 200kilometers drive away.
The primary upside of using a high street Porthleven conveyancing firm is that you can drop in to execute paperwork, present your ID and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were content that must surpass using an unknown Porthleven conveyancing solicitor just because they are round the corner.
I am on look out for some leasehold conveyancing in Porthleven. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Porthleven - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1st floor flat in Porthleven, conveyancing having been completed in 2011. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Porthleven with a long lease are worth £192,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2079
With just 54 years unexpired we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.