I am obtaining a offer of a home loan from Halifax. I would like to employ the services of a Licensed Conveyancer in Epworth. Does the Halifax Solicitor panel include Licensed Conveyancers?
The Halifax conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I have justbeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Epworth for a purchase of a leasehold flat 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Epworth conveyancing specialists.
I am looking for a flat up to £305k and found one close by in Epworth I like with open areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Epworth in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may 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 with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am a sole trader hoping to lease a unit on the high street. Can you recommend lawyers offering competitive fees for commercial conveyancing in Epworth for under 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Epworth, including the disposal and acquisition of businesses as well as simply property. Whether you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we can find you 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 phone us so that we may furnish you with comprehensive commercial conveyancing quote.
I am tempted by the attractive purchase price for a couple of flats in Epworth which have approximately 50 years remaining on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in Epworth is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Epworth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a ground floor flat in Epworth, conveyancing formalities finalised 8 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Epworth with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2099
With just 74 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Why is it not possible to complete our conveyancing in Epworth on Easter Monday?
Because on completion the funds will pass between the banks of the purchaser and owner’s lawyer and currently this can only take place on a working day. So you can't complete on a saturday or sunday either.