We note that you have a search directory identifying firms on the Aldermore conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Cottesmore?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cottesmore.
I am buying a semi-detached house in Cottesmore. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Cottesmore you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Cottesmore.
How does conveyancing in Cottesmore differ for new build properties?
Most buyers of new build residence in Cottesmore come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Cottesmore usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Cottesmore or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Cottesmore is the location of the property. What do you suggest?
Flying freeholds in Cottesmore are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cottesmore you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cottesmore may ascertain 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 premises.
I am a sole trader planning to lease a unit on the high street. Can you recommend solicitors offering competitive fees for non-domestic conveyancing in Cottesmore for under 1500k?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Cottesmore, including the sale and purchase of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right solicitor. As for the fees this will depend on the structure and terms of the deal. Let us have your contact information or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.
I work for a busy estate agent office in Cottesmore where we have experienced a few leasehold sales derailed due to short leases. I have received conflicting advice from local Cottesmore conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. 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.
Alternatively, it may be possible 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 buyer.
I purchased a 1st floor flat in Cottesmore, conveyancing formalities finalised 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Cottesmore with over 90 years remaining are worth £197,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2080
With just 54 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.