I am buying a new build duplex in Marske and Upleatham and my conveyancer is telling me that she is duty bound to the bank to disclose incentives from the developer. 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 solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It has been three months since my purchase conveyancing in Marske and Upleatham completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Marske and Upleatham I like with amenity areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Marske and Upleatham suitable, 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 a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Marske and Upleatham and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial lessees, giving them the a statutory right to apply to court for a new lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Marske and Upleatham is one of the many locations in which our lawyers have offices
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Marske and Upleatham. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Marske and Upleatham ?
Most houses in Marske and Upleatham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Marske and Upleatham so you should seriously consider shopping around for a Marske and Upleatham conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I bought a 1 bedroom flat in Marske and Upleatham, conveyancing having been completed July 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Marske and Upleatham with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2101
With 76 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
I am searching for Marske and Upleatham conveyancing quotes online. Can I be sure that all the Marske and Upleatham law firms that are listed on your site are on the lender conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Marske and Upleatham firm being on the bank conveyancing panel is not accurate.