A colleague advised me that where I am buying in Stamford Bridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Stamford Bridge conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Stamford Bridge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Stamford Bridge.
It has been four months since my purchase conveyancing in Stamford Bridge took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
How does conveyancing in Stamford Bridge differ for newly converted properties?
Most buyers of new build residence in Stamford Bridge come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Stamford Bridge usually acquire 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 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 Stamford Bridge or who has acted in the same development.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Stamford Bridge I like with open areas and transport links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Stamford Bridge suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I have just appointed agents to market my basement apartment in Stamford Bridge. Conveyancing lawyers have not yet been instructed, however I have recently received a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge the maintenance contribution as you normally would because all ground rent and service charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Stamford Bridge Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
In the main the cost for major works are not included within maintenance charges, albeit that a few managing agents in Stamford Bridge obliged leasehold owners to contribute towards a sinking fund and this is used to offset against larger works. What is the the remaining lease term? Is anyone aware of any major works in the near future that could increase the service fees?