Why is it silly to buy a leasehold with less than 99 years to run?
In large part, if a leasehold drops below 90 years, it’s because mortgage companies will not be willing to lend money to purchase the leasehold. They will almost certainly have a stipulation on the length of the leasehold as part of their criteria for lending.
Most buyers are very aware of this and the trend is for an insistence of the sellers to provide an extension back up to the 99-year or 125-year thresholds before considering its purchase. Otherwise, even if you can finance it, eventually you’ll have to consider the legal cost of extending the lease yourself.
Which local authority looks after Barnes?
Barnes is located in London Borough of Richmond upon Thames Council, Civic Centre, 44 York Street, Twickenham, Middlesex, TW1 3BZ, phone: 08456 122 661
What do we need to be aware of if purchasing country house in a Richmond upon Thames planning authority conservation area ?
An integral part of conveyancing for buyers includes procurement of searches of Richmond upon Thames planning authority to find out conservation area status and the required permission for any alterations. .
Do we need to opt for the conveyancing solicitor that generally works with by my local agent?
Both agents and mortgage brokers will often refer a conveyancing solicitor. Such referrals should be compared against alternatives, such as local solicitors, or firms found online, as the agent may prefer to suggest the solicitor willing to pay the highest referral fee, not the best value for you.
If there are outstanding works approved in the planning consent, can I still use it?
Generally speaking, planning permission legally has to have an expiry date, which is usually for a period of three years from approval for the building work to start (and not necessarily complete, unless the consent has a suitable caveat).
This means that the consent is against the property and the intended construction rather than the person who made the application. As such, if the planning consent remains within the expiry period, the agreement is transferrable to the new owner of the property.
Your solicitor will be able to provide further advice, once enquiries with the local authority have been satisfactorily completed as part of the conveyancing.
What should I do about the transfer of ownership of the utility billing?
It is the responsibility of the former owners to inform the utilities firms (gas, electricity, water, etc.) that they are moving.
You should give your current suppliers at least 48 hours’ notice that you’re moving home and, when you leave your old property, you should take all the necessary readings and send them to your old supplier(s) along with your forwarding address, so that they can send you a final bill and sort out any credit you might be owed.
You should give your new utility suppliers at least 48 hours giving your personal details for the new property. When you move into your new property, you should take all the readings again and send them to the new suppliers so that they have a record of where to start the bills running.
We are buying in Barnes. Are there many designated conservation areas in the area?
Conservation areas pinpoint areas of special architectural or historic interest. These restrictions can add to maintenance costs, but the benefits will include better maintained homes and gardens. Your solicitor will advise further.