I am purchasing a property without a mortgage in Thames Ditton. I have lived for the last twelve years in Thames Ditton. Conveyancing searches are expensive. Given that I know the road and vicinity intimately must I have all the conveyancing searches?
If you not getting a home loan, then all but one or two of the Thames Ditton conveyancing searches are non-obligatory. Your lawyer will 'advise', no-doubt strongly, that you should have searches completed, but he is duty bound to take that path of encouragement . Do take into account; if you are likely to dispose of the house one day, it may be of relevance to your prospective purchaser what the searches determine. Sometimes houses with no practical issues can still throw up unexpected search results. A good conveyancing solicitor in Thames Ditton should be able to give you some constructive guidance in this regard.
How does conveyancing in Thames Ditton differ for newly converted properties?
Most buyers of new build residence in Thames Ditton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Thames Ditton tend to 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 conveyancers 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 accustomed to new build conveyancing in Thames Ditton or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and identified one close by in Thames Ditton I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Thames Ditton for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
My business partner and I are planning to lease a unit on a shopping parade. Can you recommend lawyers offering no-move-no costs for commercial conveyancing in Thames Ditton for less than 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Thames Ditton, including the sale and acquisition of businesses as well as simply property. If you are looking to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. As for the charges this will depend on the structure and nuances of the proposed transaction. Let us have your details or call us so that we can supply you with a detailed commercial conveyancing calculation.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Thames Ditton. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Thames Ditton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Thames Ditton so you should seriously consider looking for a Thames Ditton conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I am the leaseholder of a ground flat in Thames Ditton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension case for a Thames Ditton residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.