I am searching for value for money conveyancer. Should I go for for a nationwide conveyancer or a local Lymm conveyancing solicitor?
Established third party relationships is an important consideration when appointing conveyancing solicitors. Lymm law firms often have long term relationships with financial advisers and estate, local authorities, surveyors and other conveyancing firms meaning you will move in shortest possible time. Hosting a well rounded insight into the local area is also a plus .
We are about to exchange contracts for a freehold house in Lymm. We have hit a stumbling block. The mortgage offer with The Mortgage Works expires on 16/2/2026 but the sellers are insisting on a completion date of 18/2/2026. Can one extend the mortgage expiry date?
The person best placed to address this concern is your lawyer who is in a position to assess whether he or she is should be discussing with the mortgage company, owner’s conveyancers, property agents or indeed all three based on the circumstances your house move to date.
My colleague advised me that if I am buying in Lymm I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Lymm conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Lymm around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lymm Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Lymm Education with plans and statistics, Local Amenities and other useful information regarding Lymm.
Just had an offer accepted on a new build apartment in Lymm. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lymm
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There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan.
I am attracted to a two apartments in Lymm both have about fifty years unexpired on the leases. should I be concerned?
There are no two ways about it. A leasehold flat in Lymm is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and banks, leases with under 75 years become less and less marketable. 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 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 Lymm 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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 own a basement flat in Lymm, conveyancing was carried out 10 years ago. How much will my lease extension cost? Comparable properties in Lymm with an extended lease are worth £227,000. The ground rent is £50 levied per year. The lease expires on 21st October 2097
With 72 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information 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 move forward based on this information without first seeking the advice of a professional.
One month into a sale of a flat in Lymm. Conveyancing is fine but we have been asked to pay a fortune from the freeholder. To date we have issued a cheque for £275 for a leasehold management pack and then another £117.20 for supplemental queries supplied by the purchaser's conveyancer.
Neither you or your property lawyer will have any say over the extent of the charges for this information but the average fee for the information for Lymm leasehold property is £355. When it comes to Lymm conveyancing deals it is standard for the vendor to cover the costs. The freeholder or their agents are not duty bound to address such questions most will be content to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Regretfully there is no law that mandates capped fees for administrative tasks. Neither is there any set time limit by which they are required to provide answers.