Have completed on a a semi-detached house in Stroud , how long will it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Stroud conveyancing solicitor has been painfully slow, so I want to check the land registry aspects are concluded.
There is nothing unique about conveyancing in Stroud registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether it is in order and if the Land registry must send notices to any interested persons or bodies. As of today roughly 80% of such applications are fully dealt with within two weeks but some can be subject to protracted delays. Registration occurs once the buyer has moved in to the premises so 'speed' is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
How can the Landlord & Tenant Act 1954 impact my commercial property in Stroud and how can your lawyers assist?
The particular law that you refer to provides protection to business leaseholders, granting the a statutory right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Stroud is one of the many areas of the UK in which our lawyers are based
Am I best advised to go with a Stroud conveyancing solicitor who is local to the property I am buying? An old friend can execute the conveyancing however her office is approximately 350miles away.
The primary upside of using a local Stroud conveyancing practice is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. Having local Stroud know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were happy that should outweigh using an unknown Stroud conveyancing lawyer solely due to them being based in the area.
I own a leasehold house in Stroud. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Stroud who previously acted has now retired. Do I pay?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Stroud conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a split level flat in Stroud, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Stroud with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2099
With only 80 years unexpired the likely cost is going to span between £7,600 and £8,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information 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. Please do not move forward placing reliance on this information before getting professional advice.
I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my apartment purchase in Stroud , but I still want to go ahead. What can I do?
You can accept a smaller deposit. Many sellers will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second