It is 10 years ago since I bought my house in Royston. Conveyancing lawyers have recently been instructed on the sale but I am unable to find my title documents. Is this a major issue?
You need not be too concerned. First the deeds may be kept by your mortgage company or they may be archived with the lawyers who acted in the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Royston involves registered property but in the rare situation where your property is not registered it is more of a problem but is resolvable.
I have been told that property searches are the main reason for stalling in Royston house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Royston.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Royston is the location of the property. What do you suggest?
Flying freeholds in Royston are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Royston you would need to get your solicitor to go 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 Royston may determine 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 premises.
We're first time buyers - agreed a price, but the estate agent has warned us that the owners will only issue a contract if we appoint their chosen lawyers as they need a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Royston
We suspect that the owner is unaware of this ultimatum. Should the seller require ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make sure they understand (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Royston conveyancing lawyers - not the ones that will give their negotiator at the agency a introducer fee or hit his conveyancing thresholds demanded by corporate headquarters.
I only have 72 years left on my lease in Royston. I now wish to extend my lease but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. In some cases a specialist would be useful to conduct investigations and to produce a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Royston.
I own a garden flat in Royston, conveyancing having been completed 7 years ago. How much will my lease extension cost? Comparable properties in Royston with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2078
With only 53 years left to run we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.