I have given 2 months notice to my current landlord and have to leave my rented apartment in Fleetwood by the end of next month. Conveyancing on my purchase is underway. Is it possible to complete in three weeks as I wish to avoid having to move into temporary accommodation?
The normal practice is not to give notice on a rental until exchange of contracts has taken place. Assuming that you have not already done so, contact to your solicitor and request that they cajole the sellers lawyers, try to get a realistic time scale from them that all parties will look towards
My friend advised me that if I am purchasing in Fleetwood I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Fleetwood conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Fleetwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Fleetwood.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Fleetwood I like with a park and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Fleetwood for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the anticipated 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 can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
What does commercial conveyancing in Fleetwood cover?
Fleetwood conveyancing for business premises incorporates a wide range of services, offered by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Last September I purchased a leasehold property in Fleetwood. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a leasehold flat in Fleetwood, conveyancing formalities finalised June 1997. 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 Fleetwood with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2090
With only 65 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
Me and my wife are disposing of a Fleetwood bungalow left to us some years ago in 2011. I have over a decades worth of conveyancing know-how and, now retired, see no reason not to conduct my own conveyancing. The buyer's property lawyer has informed me that their Lenders will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Mortgage requirements to property lawyers from all CML members specify that If the seller is not legally represented the purchaser’s lawyers should check whether the mortgage company needs to be informed so that a decision can be reached if they are prepared to progress.