Me and my partner are purchasing our first house. Our solicitor has calledto see if we wish to purchase supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Towcester

The range of Towcester conveyancing searches should be dictated primarily on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you adequately comprehend what information each search could supply. Then you can decide if you consider that you need that information. Should you be unsure, ask your property lawyer to provide guidance.

I have recentlybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Towcester for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?

The easiest method to check if the property is in your name, you can make 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 Towcester conveyancing specialists.

I am looking for a leasehold apartment up to £305k and identified one near me in Towcester I like with a park and station in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Towcester in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you require a mortgage that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

How can the Landlord & Tenant Act 1954 affect my commercial offices in Towcester and how can your lawyers assist?

The particular law that you refer to affords protection to business lessees, granting the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Towcester is one of our hundreds of areas of the UK in which our lawyers have offices

Last August I purchased a leasehold property in Towcester. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Towcester Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

Where a Towcester lease has less than eighty years it will affect the value of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this will be. For most Towcesterlease extensions you would be be obliged to have owned the residence for two years before you are legally able to extend the lease. It would be sensible to discover if the the lease includes any adverse restrictions in the lease. By way of example some leases prohibit pets being allowed in certain buildings in Towcester. If you like the apartmentin Towcester yet your dog can’t make the move with you then you will be faced difficult determination.