A colleague recommended that where I am purchasing in Newcastle upon Tyne I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Newcastle upon Tyne conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Newcastle upon Tyne around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Newcastle upon Tyne Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Newcastle upon Tyne Education with plans and statistics, Local Amenities and other useful data regarding Newcastle upon Tyne.
My wife and I own a terraced Georgian property in Newcastle upon Tyne. Conveyancing lawyer represented me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for 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 Newcastle upon Tyne and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Newcastle upon Tyne differ for newly converted properties?
Most buyers of new build premises in Newcastle upon Tyne approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because builders in Newcastle upon Tyne tend to purchase 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 conveyancing solicitors 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 Newcastle upon Tyne or who has acted in the same development.
My company is planning to lease a unit on a shopping parade. Can you recommend lawyers offering fixed costs for commercial conveyancing in Newcastle upon Tyne for less than 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Newcastle upon Tyne, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we will find you the right lawyer. As for the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or call us so that we can furnish you with a fixed commercial conveyancing quote.
Can you provide any advice for leasehold conveyancing in Newcastle upon Tyne with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Newcastle upon Tyne can be bypassed where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors. If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Newcastle upon Tyne leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you dont have the consents in place you should not contact the landlord without checking with your solicitor before hand. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Newcastle upon Tyne conveyancing transaction. Where a duplicate share is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity. Many freeholders or Management Companies in Newcastle upon Tyne charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Newcastle upon Tyne.
I invested in buying a split level flat in Newcastle upon Tyne, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Newcastle upon Tyne with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2079
You have 55 years remaining on your lease we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.