It is 10 years ago since I acquired my property in Cranfield. Conveyancing solicitors have now been retained on the sale but I am unable to find the deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with the lender or they may be archived with the solicitor who handled your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Cranfield involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
I just acquired a flat at auction in Cranfield. Conveyancing is required. What happens now?
Having exchanged you should instruct a conveyancing solicitor quickly as you are facing a tight deadline in which to complete the deal. An auction property will have a bespoke auction pack. This should include evidence of title and search results. In the case of leasehold premises the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should give this to the lawyer instructed by you as soon as possible. You also need to ensure that your finances are in order to complete on the date specified in the contract.
My fiancee and I are in the throws of viewing apartments in Cranfield and I am about to put in an offer. Is it best to have a property lawyer on ‘stand by’? I am planning to take a home loan with Bank of Ireland.
It would be sensible to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are getting a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I can not work out if my lender requires a lease extension. I have called my Cranfield bank branch on various occasions and was reassured it wasn't an issue and they will lend. My Cranfield conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I simply don't know who is right.
The conveyancing practitioner has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My company is hoping to take over a lease of an office on a shopping parade. Can you recommend lawyers offering no-sale-no costs for non-domestic conveyancing in Cranfield for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Cranfield, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to purchase or lease a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right lawyer. Regarding the costs this will depend on the structure and heads of terms of the deal. Please provide us with your details or call so as to enable us to provide you with comprehensive commercial conveyancing calculation.
My husband and I are a fortnight into a leasehold purchase having been recommend to conveyancers by the local agent to carry out the conveyancing in Cranfield. I am not happy. Could you you assist me in finding new conveyancers?
They would have to be really bad in order to consider diss instructing them. Has your loan offer been generated? In the event that it has you must advise them of the new contact details and ensure the loan are re-sent. Your solicitor ideally needs to be on the lenders panel to avoid supplemental charges and delays. That should be your first question of the new solicitors. The search tool should assist you in finding a bank approved lawyer for your conveyancing in Cranfield
I work for a busy estate agent office in Cranfield where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Cranfield conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
I invested in buying a 1 bedroom flat in Cranfield, conveyancing having been completed 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Cranfield with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2087
With just 62 years left to run the likely cost is going to be between £17,100 and £19,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
My sister completed her conveyancing in Cranfield ten years ago. She has since got married, widowed and is now remarried. She now intends to dispose of the Cranfield property. I believe she will simply be need to provide a copy of the marriage certificates to the property lawyer however she is anxious it will frustrate the house move. Is it worth updating the land title information for the house?
You are not required to bring up to date the title for the property as long as you have the proof needed to show how the name change has come about.
The purchaser’s property lawyer should check the land registry entries and request evidence to prove the change of name for example marriage documentation.