I have just been advised by my lender that my Astley property lawyer is not on the mortgage company Solicitor panel. How can I be certain that this is indeed the case?
The sensible course of action for you to take is to call your Astley lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they may recommend you to a Astley conveyancing practice that is on the conveyancing panel for your mortgage company.
Can you suggest a Britannia accepted Astley conveyancing solicitor who can have us moved in within 10 days? Would it be better to use a high street Astley solicitor or a nationwide conveyancer?
We would be happy to suggest some excellent Astley conveyancing firms. You can also walk up the main road in Astley. Go in to two or three firms and ask to see a conveyancing solicitor for a quote. Discuss your deadline together with your reasons and get a commitment on speed. Choose the lawyer that genuine.
My relative advised me that where I am purchasing in Astley I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Astley conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Astley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Astley Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Astley Education with maps and statistics, Local Amenities and other useful data regarding Astley.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Astley I like with amenity areas and transport links nearby, however it only has 61 remaining years left on the lease. There is not much else in Astley for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Is it best to choose a Astley conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can conduct the legal work however her office is over three hundred kilometers away.
The benefit of a high street Astley conveyancing firm is that you can pop in to sign documents, deliver your ID and pester them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that should surpass using an unknown Astley conveyancing lawyer solely due to them being round the corner.
I am employed by a busy estate agent office in Astley where we see a number of flat sales derailed due to short leases. I have been given contradictory information from local Astley conveyancing solicitors. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I invested in buying a ground floor flat in Astley, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Astley with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2091
With only 66 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.