The deeds to my house are lost. The solicitors who did the conveyancing in Winterton 4 years ago have long since closed. What do I do?
As long as the title is registered the details of your ownership will be retained by HMLR with a Title Number. It is possible to execute a search at the Land Registry, find your property and obtain up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will usually hold a file duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Winterton I like with open areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Winterton for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
My father-in-law has recommend that I use his lawyers for conveyancing in Winterton. Should I find my own solicitor?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to have guidance from friends or relatives who have actually previously instructed the conveyancer you're considering.
I am looking at a couple of maisonettes in Winterton which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Winterton. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field.
Leasehold Conveyancing in Winterton - Examples of Queries before buying
Is the freehold owned jointly by the leaseholders? For most Winterton leaseholds the cost for major works are not wrapped into the maintenance charges, although there some managing agents in Winterton ask leasehold owners to pay into a sinking fund and this is used to offset against major works. Most Winterton leasehold apartments will be liable to pay a service bill for maintenance of the building levied on behalf of the landlord. Should you purchase the property you will have to meet this charge, usually periodically throughout the year. This may differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, normally this is not a large amount, say around £25-£75 but you should to enquire as on occasion it could be surprisingly expensive.
The conveyancing solicitors conducting our conveyancing in Winterton has forwarded documents to review that indicate that the property is unregistered with epitome documents. Why is the property not registred at the Land Registry?
It is rare for premises in Winterton to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Winterton conveyancing lawyers will be familiar with this type of conveyancing but where uncertainty prevails the prevailing proposition these days is for the current owners to register it first and subsequently deal with the dispose of the property to the purchaser - this undoubtedly cause a significant delay.