How does conveyancing in Henbury differ for new build properties?
Most buyers of new build property in Henbury come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Henbury tend to acquire the land, 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 property lawyers 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 Henbury or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Henbury I like with a park and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Henbury for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Henbury and how can you help?
The particular law that you refer to gives a safeguard to commercial leaseholders, giving them the dueness to make a request to court for a new lease and continue in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Henbury