My husband and I are buying a newly constructed duplex in Grasmere and my solicitor is telling me that she has to the lender to reveal incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am helping my step-mother sell her house in Grasmere. Will the conveyancer commission an energy performance certificate or should I organise this?
Following the demise of Home Information Packs, EPC’s remained a mandatory element of selling a house. An EPC should be commissioned prior to the property being placed on the market. It is not something that conveyancers ordinarily arrange. If you are instructing a Grasmere conveyancing solicitor they might be willing to arrange energy assessments given their contacts with long established local energy assessors
We were going to get a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Grasmere solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Grasmere solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I had an offer accepted on a property in Grasmere on 31/10/2024, valuation was booked 3 days after, all came back fine. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The conveyancers who handled the conveyancing in Grasmere 5 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to have the physical official documentation to establish that you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
I'm refinancing my current home to a buy to let mortgage with The Royal Bank of Scotland and I will use the ballance of the raised equity towards further property. The neighborhood we are interested in is Grasmere. Will your conveyancers be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this site to ensure that the conveyancers are approved by both mortgage companies. On the basis that they are the conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your expectations and needs.
My brother has suggested that I use his lawyers for conveyancing in Grasmere. Do I take his guidance?
There are no two ways about it the best way to select a conveyancing solicitor is to have recommendations from friends or family who have actually experience in using the solicitor that you are contemplating using.
I am attracted to a two maisonettes in Grasmere both have approximately forty five years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Grasmere is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more positive 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 premises 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 Grasmere 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 bought a garden flat in Grasmere, conveyancing formalities finalised in 1998. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Grasmere with a long lease are worth £197,000. The ground rent is £55 per annum. The lease expires on 21st October 2079
With just 55 years unexpired the likely cost is going to range between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for renewing 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 may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.