Are you able to vouch for a Clydesdale approved Risca conveyancing practice that can complete within a short deadline? Am I best advised to choose a local Risca solicitor or a nationwide firm?
We would be happy to suggest some excellent Risca conveyancing firms. You can also walk up the high street in Risca. Approach some well established firms and request to speak with a conveyancing solicitor for a fee estimate. Explain your deadline together with the reasons and get a commitment on speed. Choose the lawyer that genuine.
Do commercial conveyancing searches disclose proposed roadworks that may affect a commercial premises in Risca?
Its becoming the norm that commercial conveyancing solicitors in Risca will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Risca. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Risca.
For every commercial conveyancing transaction in Risca it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Risca commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Risca.
My wife and I own a terraced Georgian property in Risca. Conveyancing solicitor represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Risca and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Risca differ for new build properties?
Most buyers of new build property in Risca approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Risca typically acquire the land, 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 used to new build conveyancing in Risca or who has acted in the same development.
I am attracted to a couple of maisonettes in Risca which have approximately fifty years unexpired on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Risca is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and mortgage companies, leases with under 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 property 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 residence 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 Risca conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.
I purchased a leasehold flat in Risca, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Risca with a long lease are worth £181,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2070
You have 50 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.