Do banks and building societies provide you with an approved list of Summerhill conveyancing solicitors? How do you know who is on the Coventry BS conveyancing panel?

Summerhill conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.

Are there restrictive covenants that are commonly picked up during conveyancing in Summerhill?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Summerhill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How does conveyancing in Summerhill differ for new build properties?

Most buyers of new build premises in Summerhill come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Summerhill tend to buy the site, 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 conveyancers 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 used to new build conveyancing in Summerhill 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 found one close by in Summerhill I like with open areas and station nearby, however it only has 52 years on the lease. There is not much else in Summerhill in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign 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 solicitor about this matter.

Having had my offer accepted I require leasehold conveyancing in Summerhill. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Summerhill - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Summerhill Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

It would be prudent to find out as much as possible about the company managing the building as they will either make living at the property much easier or much more difficult. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the communal areas. Ask other tenants what they think of them. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. It is important to be aware if redecorating or some other significant cost is coming up to be shared by the tenants and will dramatically impact the level of the maintenance costs or require a one off payment. Does the lease include onerous restrictions?