I am acquiring a property for cash in Hawkshead. I have resided for the last 15 years in Hawkshead. Conveyancing searches are a lot of money. Given that I know the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Hawkshead conveyancing searches are optional. Your solicitor will try and sway you, perhaps strongly, that you should have searches carried out, but she has a professional duty to take that path of guidance. Do take into account; if you are likely to sell the house at a future date, it will be of interest to your prospective buyer what the searches contain. Sometimes properties with functional issues can still throw up detrimental search results. A competent conveyancing solicitor in Hawkshead should provide you some sensible guidance here.
Our mortgage company has suggested solicitors on their panel based in Hawkshead but I would rather use a conveyancing lawyer in Hawkshead local to me. Are you able to help?
It is by no means the case that all Hawkshead conveyancing solicitors are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Hawkshead conveyancing firm on the on the lender panel.
I'm buying a new build house in Hawkshead with a loan from TSB. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not disclose to my conveyancer about this side-deal as it will adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Hawkshead I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Hawkshead suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
What does commercial conveyancing in Hawkshead cover?
Hawkshead conveyancing for business premises incorporates a wide array of guidance, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, 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 mortgages and the termination of leases.
Do you have any advice for leasehold conveyancing in Hawkshead with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hawkshead can be avoided where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers’ representatives. If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing. You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Hawkshead leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
I acquired a garden flat in Hawkshead, conveyancing formalities finalised half a dozen 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? Corresponding properties in Hawkshead with a long lease are worth £190,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2086
With 61 years remaining on your lease we estimate the price of your lease extension to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.