I have been told that property searches are the main reason for obstruction in South Yorkshire conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in South Yorkshire.
2 months have gone by since my purchase conveyancing in South Yorkshire completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a house in South Yorkshire ahead of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks will refuse to grant a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in South Yorkshire. Conveyancing will be smoother if you use a solicitor in South Yorkshire especially if they are familiar with such properties in South Yorkshire.
In what way does the Landlord & Tenant Act 1954 affect my business property in South Yorkshire and how can your lawyers assist?
The 1954 Act affords security of tenure to business leaseholders, giving them the right to apply to court for a new lease and remain in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. South Yorkshire is one of the numerous areas of the UK in which our lawyers are based
I am attracted to a couple of apartments in South Yorkshire which have about fifty years unexpired on the lease term. should I be concerned?
There are plenty of short leases in South Yorkshire. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease deteriorates and it becomes more expensive to extend the lease. 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 because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in South Yorkshire - Sample of Questions you should consider before buying
Generally speaking the outlay for major works tend not to be wrapped into the service charges, albeit that a few managing agents in South Yorkshire ask leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. Where a South Yorkshire lease has no more than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for 24 months before you are entitled to extend the lease. Is the freehold reversion owned collectively by the tenants?