I have given 2 months notice to my existing landlord and must leave my let out property in Clowne by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in three weeks as don't want to have to move into short term accommodation?
Generally one should not serve notice on a rental unless exchange of contracts has taken place. Assuming that you have not already done so, speak to your conveyancer and request that they cajole the owners lawyers, try to get a realistic time scale from them that all parties will work towards
What does my ID and proof of funds have anything to do with my conveyancing in Clowne? What am I being asked for?
Clowne conveyancing solicitors and indeed property practitioners accross the UK have an obligation under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Proof of the origin of monies is also necessary under the money laundering statutes as lawyers are required to check that the funds you are using to acquire a property (be it the exchange deposit or the full purchase monies where you are a cash purchaser) has come from a reputable source (such as employment savings) and is not the proceeds of criminal activity.
Our mortgage company has recommended a law firm on their panel based in Clowne but I would rather use a conveyancing lawyer in Clowne round the corner to me. Are you able to assist?
Not all Clowne conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to choose a Clowne conveyancing solicitor on the on the mortgage company panel.
I require expedited conveyancing in Clowne as I am faced with pressure to exchange contracts in less than one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to have searches conducted although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Clowne the following are instances of issues that can crop up and adversely impact future saleability: Refused Planning Applications, Overdue Charges, Overdue Grants, Unadopted Roads,...
In what way can the Landlord & Tenant Act 1954 affect my business property in Clowne and how can you help?
The 1954 Act gives protection to commercial tenants, giving them the right to make a request to court for a renewal lease and remain in occupation at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Clowne is one of our hundreds of locations in which our lawyers have offices
I am looking at a two flats in Clowne both have about 50 years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Clowne. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area.
I inherited a 1 bedroom flat in Clowne, conveyancing was carried out in 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Clowne with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2100
You have 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.