I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Rutland is the location of the property. What do you suggest?
Flying freeholds in Rutland are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rutland you would need to get your solicitor to go 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 Rutland 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 property.
I am downsizing from my home. My previous lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Rutland if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Rutland. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Am I best advised to instruct a Rutland conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the legal work but they are based over three hundred kilometers drive away.
The primary upside of using a high street Rutland conveyancing firm is that you can drop in to sign documents, present your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that should surpass using an unknown Rutland conveyancing solicitor solely due to them being Rutland based.
I am attracted to a couple of flats in Rutland which have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease shortens the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
I invested in buying a garden flat in Rutland, conveyancing formalities finalised July 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Rutland with a long lease are worth £180,000. The ground rent is £65 yearly. The lease ends on 21st October 2078
You have 59 years left to run the likely cost is going to span between £20,900 and £24,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
My partner and I have today had a bid accepted on our 1st house in Rutland, and are about to get solicitors lined up. We have used the different comparison tools and the fee estimates are from all across the the UK. Is it important to have a Rutland solicitor local to your prospective property? I am happy to do everything over the internet, but I assume at some point we will need to visit the property lawyer's office to sign papers?
The property lawyer does not need to be in Rutland, but opting for local means that you have the option to go in if required, for instance, if a signature is needed urgently. Furthermore, a Rutland solicitor is likely to be familiar with local agents and (if the vendor has chosen a local solicitor) with them, which should help smooth the process.