Me and my brother own a renovated Victorian house in Marston Moretaine. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Marston Moretaine and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build flat in Marston Moretaine. Conveyancing is a frightening process 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 few leasehold new build questions that you can expect your new-build leasehold conveyancing in Marston Moretaine
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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? Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Marston Moretaine is the location of the property. Can you offer any assistance?
Flying freeholds in Marston Moretaine are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Marston Moretaine you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Marston Moretaine may decide 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 am selling my home. My previous conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Marston Moretaine if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Marston Moretaine. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am looking at a two apartments in Marston Moretaine both have approximately forty five years unexpired on the leases. should I be concerned?
There are no two ways about it. A leasehold apartment in Marston Moretaine is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Marston Moretaine conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a basement flat in Marston Moretaine, conveyancing having been completed in 2012. 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? Corresponding flats in Marston Moretaine with an extended lease are worth £176,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2105
With just 80 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.