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Ready to buy a new home in Prestbury? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Prestbury conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Prestbury

I am need of leasehold conveyancing for a flat in a fairly new development (6 years built) in Prestbury. Almost all the appartments are already occupied. Is it strictly necessary to order local searches for my conveyancing in Prestbury?

You would be taking a significant risk in refusing to carrying out Prestbury conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that you have them. Where time pressures and expenses are primary issues you should consider with your solicitor about the options such as contingency insurance available to you

Do I need to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Prestbury so that I can pop in to their offices when needed.

As opposed to ten years ago, the vast majority lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to provide ID documents and there are still manifest benefits to choosing a local practitioner, in your situation a conveyancing solicitor in Prestbury.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Prestbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Prestbury

    The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.

Due to the advice of my in-laws I had a survey completed on a house in Prestbury prior to appointing solicitors. I have been told that there is a flying freehold element to the property. The surveyor has said that some lenders will refuse to issue a loan on a flying freehold premises.

It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Prestbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Prestbury to see if the conveyancing will be more expensive.

We expect to complete the disposal of our £400,000 flat in Prestbury on Tuesday in a week. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Prestbury?

Prestbury conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are entitled to charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to sell the property.

Prestbury Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

    It is important to be aware if a new roof is being installed or some other significant cost is due shortly to be shared between the leasehold owners and may well dramatically impact the level of the service costs or necessitate a one time invoice. For most Prestbury leaseholds the outlay for major works are not wrapped into the maintenance charges, although some managing agents in Prestbury obliged leasehold owners to contribute towards a reserve fund and this is used to offset against major works. How much is the ground rent and service charge?

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Find out more about how flying freehold can affect your the value of a property.