I have given 8 weeks notice to my existing landlord and have to leave my let out apartment in Morecambe by the end of next month. Conveyancing on my purchase is underway. How realistic is it to complete in 5 weeks as don't want to have to find short term accommodation?
The normal practice is not to serve notice for your letting unless your lawyer suggests that you should. Assuming that you have not previously done so, update to your lawyer and urge them to they cajole the owners side, try to an agreed time frame that everyone will aim towards
My wife and I have recently appointed a conveyancing solicitor in Morecambe. I I am struggling to find out whether they are accepted on the Lloyds TSB Bank approved list of lawyers. Could you assist?
The first thing to do is phone the conveyancer and enquire whether they can act for the lender. Otherwise you should call Lloyds TSB Bank who may be able to confirm.
Due to the encouragement of my in-laws I had a survey completed on a property in Morecambe prior to appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will refuse to grant a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Morecambe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Morecambe to see if the conveyancing costs will increase in light of this.
Am I best advised to appoint a Morecambe conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can execute the legal formalities but they are based a couple of hundredkilometers drive away.
The benefit of a high street Morecambe conveyancing practice is that you can visit the firm to execute documents, deliver your ID and pester them where appropriate. Having local Morecambe know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and on the whole were impressed that must surpass using an unknown Morecambe conveyancing solicitor just because they are local.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Morecambe. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Morecambe are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Morecambe in which case you should be shopping around for a Morecambe conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.
I invested in buying a garden flat in Morecambe, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Morecambe with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2076
You have 51 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
Developers have recommended to me a solicitor and I've obtained an estimate from them. It's almost three hundred pounds cheaper than my preferred Morecambe property lawyer. Should I use them?
Builders often have lists of lawyers who are quick and who know the builder's contract and conveyancing practitioner. Plenty of developers offer an incentive to choose their approved conveyancer for this reason, any increased charges can be avoided and a builder won't suggest a conveyancing factory and run the risk of having the conveyancing delayed when they need an exchange inside a month. A counter-argument for not opting for the recommended conveyancing practitioner is that they may be unwilling to 'push' your interests for fear of alienating the developer. Where you have concerns that this may be the case you should remain with your high street Morecambe conveyancer.