Is there a reason why leasehold purchase conveyancing in Templecombe costs more?

The conveyancing charges for a leasehold premises in Templecombe is frequently greater as compared to a freehold property. This is because there is an amount of supplemental investigations necessary in liaising with the freeholder and management company to obtain information about whether the rent and service charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.

Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Templecombe so that I can attend their offices when needed.

Whereas this was necessary 12 years ago, the vast majority mortgage companies no longer require their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to provide identification documents and there are still distinct advantages to instructing a locally based practitioner, in your situation a conveyancing solicitor in Templecombe.

I have todaybecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Templecombe for a purchase of a leasehold flat 10 months ago. How can I check that the property is in my name in the name of the former proprietor?

The easiest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Templecombe conveyancing specialists.

Am I best advised to instruct a Templecombe conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can perform the conveyancing however her office is 400kilometers drive away.

The primary upside of using a high street Templecombe conveyancing firm is that you can pop in to execute documents, hand in your ID and pester them if necessary. Having local Templecombe know how is a plus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were impressed that must surpass using an unfamiliar Templecombe conveyancing solicitor solely due to them being round the corner.

I am a negotiator for a long established estate agent office in Templecombe where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Templecombe conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Templecombe Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

This information is important as a) areas could result in problems in the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the running of the building you will need to have all the details Make sure you discover if the the lease contains any onerous restrictions in the lease. By way of example it is very common in Templecombe leases that pets are not allowed in in a block in Templecombe. If you love the propertyin Templecombe however your dog can’t live with you then you have a very difficult compromise. It is important to be aware whether changing the roof or some other significant cost is due shortly that will be shared by the leasehold owners and may well materially impact the level of the service fees or result in a specific payment.