I am need of leasehold conveyancing for an apartment in a relatively new development (6 years built) in Buntingford. The vast majority the properties are already sold. Is it really necessary to order conveyancing searches for my conveyancing in Buntingford?

A big part of the Buntingford conveyancing process is the conveyancing searches. There are a large number of companies delivering Buntingford conveyancing searches, as well straight from the local authority. These are generally termed personal search companies due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authority.

My colleague advised me that where I am purchasing in Buntingford I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally included in the estimate for your Buntingford conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Buntingford 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 Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Buntingford.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Buntingford?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Buntingford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am buying a new build flat in Buntingford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Buntingford

The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?

When it comes to leasehold conveyancing in Buntingford what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Buntingford. Most leases are drafted differently and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

Insurance obligations Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I invested in buying a 1st floor flat in Buntingford, conveyancing having been completed 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Buntingford with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease terminates on 21st October 2084

With 60 years left to run we estimate the price of your lease extension to be between £20,000 and £23,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.