I require conveyancing for a flat in a relatively new development (6 years old) in Belmont. 95% of the flats are already occupied. Is it strictly necessary to order neighbourhood searches for my conveyancing in Belmont?
If you are buying a property with the assistance of a loan, your mortgage company will insist on some (many) of the searches so you'll have no choice. If not, then Belmont conveyancing searches are optional. No doubt your conveyancer, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Belmont.
Can you explain why leasehold purchase conveyancing in Belmont is more expensive?
The conveyancing fees for a leasehold property in Belmont is often more expensive than on a freehold residence. This is because there is an amount of extra work necessary in corresponding with the freeholder and managing agents to obtain information about whether the rent and service fee have been cleared and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
My relative suggested that where I am purchasing in Belmont I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Belmont conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Belmont 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 demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Belmont.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Belmont is the location of the property. Can you offer any advice?
Flying freeholds in Belmont are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Belmont you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belmont may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Belmont. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Belmont are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Belmont so you should seriously consider shopping around for a Belmont conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Belmont. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Belmont residence is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case was in relation to 2 flats. The remaining number of years on the lease was 66.67 years.