I have given 8 weeks notice to my existing landlord and must vacate my rented property in Hayling Island by the end of next month. Conveyancing for my house purchase is underway. Is it possible to complete in a couple of weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to serve notice on a rental until exchange of contracts has taken place. If you have not previously done so, notify to your conveyancer and urge them to they apply pressure on the sellers side, try to get a realistic time scale from them that everyone will work to achieve
We're in Hayling Island, FTBs purchasing with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are downsizing from our house in Hayling Island and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Hayling Island lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing outfit as opposed to a conveyancing solicitor in Hayling Island. We have lived in Hayling Island for six years we know of no issue. Should we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I have been on the look out for a flat up to £235,500 and identified one close by in Hayling Island I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Hayling Island in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Expecting to sign contracts shortly on a garden flat in Hayling Island. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hayling Island should include some of the following:
-
Where does the liability rest to repair and maintain the main walls and foundations. It is important that you know which party is duty bound to repair and maintenance of every part of the building What the implications are if you are in breach of your lease terms? Repair and maintenance of the premises The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
I invested in buying a basement flat in Hayling Island, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Hayling Island with over 90 years remaining are worth £227,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2098
With just 72 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
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 investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My partner and I have AIP from Nottingham Building Society who indicated that they will loan up to £218k. When do we need to instruct a solicitor for conveyancing? Hayling Island is where we plan to move to.
It would be wise to instruct a property lawyer now and ask them to open a file for you. This will enable: 1) the selling agent to issue a Sales Memo to all parties 2) the seller’s lawyer to send out the draft paperwork. However, do not instruct your conveyancing practitioner to start searches until you receive your valuation report via Nottingham Building Society and you are content to proceed.