Should my conveyancer be asking questions concerning flooding as part of the conveyancing in Milton Keynes Village.

The risk of flooding is if increasing concern for lawyers dealing with homes in Milton Keynes Village. Plenty of people will buy a house in Milton Keynes Village, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.

Solicitors are not best placed to impart advice on flood risk, however there are a numerous searches that can be carried out by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Milton Keynes Village. The standard property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the premises has suffered from flooding. In the event that the property has been flooded in past which is not notified by the vendor, then a buyer may commence a legal claim for losses as a result of such an misleading answer. The purchaser’s lawyers will also commission an environmental report. This will disclose whether there is a recorded flood risk. If so, additional investigations will need to be initiated.

The deeds to my house are lost. The lawyers who conducted the conveyancing in Milton Keynes Village 10 years ago have long since closed. Will I be able to sell the house?

You no longer need to have the physical deeds to establish that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.

I am a sole trader hoping to lease a unit on a shopping parade. Can you recommend solicitors offering fixed charges for non-domestic conveyancing in Milton Keynes Village for less than £1,200?

We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Milton Keynes Village, including the sale and purchase of businesses as well as simply premises. Whether you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right firm. Regarding the charges these will vary based on the structure and terms of the deal. Please provide us with your details or telephone so as to enable us to supply you with a fixed commercial conveyancing quote.

I am tempted by the attractive purchase price for a two apartments in Milton Keynes Village both have in the region of 50 years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Milton Keynes Village is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Milton Keynes Village conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I bought a studio flat in Milton Keynes Village, conveyancing formalities finalised 9 years ago. How much will my lease extension cost? Comparable flats in Milton Keynes Village with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2081

With 55 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

A licensed conveyancer handled my conveyancing in Milton Keynes Village half a dozen years ago having retained my registration documents but has since been shut down – What steps do I now take to retreive these?

Deeds, as such, no longer exist as the majority of homes in Milton Keynes Village are registered digitally at Land Registry. If you need to show ownership or are selling or refinancing your property lawyer should obtain up to date copies of the register from the Land Registry in any case.

If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.