I have given 2 months notice to my current landlord and have to vacate my rented apartment in Bridport by the end of next month. Conveyancing for my house purchase is progressing. How realistic is it to complete in six weeks as I wish to avoid having to move into temporary accommodation?
Generally one should not provide notice on a rental until your lawyer suggests that you should. If you have not previously done so, contact to your lawyer and request that they cajole the sellers lawyers, try to an acceptable time-line that all parties will work towards
Completed the sale of my flat in Bridport last April yet the purchaser is whats apping every few hours to say their lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
Following your disposal your solicitor is committed to send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your solicitor must also confirm that the legal charge in favour of the lender has been repaid to the buyers solicitors. There is unlikely to be post completion formalities just for conveyancing in Bridport.
It has been five months following my purchase conveyancing in Bridport concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Bridport is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bridport are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bridport you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bridport may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm converting the mortgage on my primary property to a BTL mortgage with Accord Mortgages Ltd and I will use the rest of the raised equity towards further property. The location we are looking at is Bridport. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Make use of our search tool on this page to check that the lawyers are on the appropriate lender panels. Having checked that they are your solicitor should be able to simultaneously deal with the two transactions but you should talk with you solicitor and make apparent your desired outcome and requirements.
I am employed by a busy estate agent office in Bridport where we see a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Bridport conveyancing solicitors. Could you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
Leasehold Conveyancing in Bridport - Examples of Questions you should consider before buying
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How is the lease structured? How many of the leaseholders are in arrears for their service charge payments? Please note that where the lease has less than 80 years it will affect the marketability of the flat. Check with your lender that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would need to own the residence for a couple of years in order to be eligible to carry out a lease extension.