I have given 2 months notice to my existing landlord and have to leave my rented apartment in Moreton by the end of next month. Conveyancing on my purchase has just started. Can I complete in a couple of weeks as don't want to have to move into temporary accommodation?
Generally one should not give notice for your lease until exchange of contracts has taken place. Assuming that you have not previously done so, contact to your conveyancer and request that they cajole the owners lawyers, try to get a realistic time scale from them that all parties will aim towards
Completed the sale of my flat in Moreton last August but our buyer keeps calling daily to moan that their conveyancer is waiting to hear from mine. What should have happened following completion?
Following your house sale your lawyer should forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also confirm that the legal charge in favour of the lender has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Moreton.
I need some quick conveyancing in Moreton as I am under an ultimatum to exchange contracts inside 3 weeks. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you are at liberty not to do searches although no solicitor would advise that you don't. With plenty of history conveyancing in Moreton the following are examples of issues that can appear and adversely impact the marketability of the property: Enforcement Actions, Overdue Fees, Overdue Grants, Railway Schemes,...
I am looking for a ground for flat up to £245,000 and identified one round the corner in Moreton I like with a park and station nearby, however it only has 49 years on the lease. There is not much else in Moreton in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years may be a potential deal breaker. 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 may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Is it best to use a Moreton conveyancing solicitor based in the area that I am buying? I have an old university friend who can handle the legal formalities but his firm is located over three hundred miles away.
The benefit of a local Moreton conveyancing firm is that you can drop in to execute documents, present your ID and pester them where appropriate. They will also have local intelligence which is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were content that must outweigh using an unknown Moreton conveyancing lawyer solely due to them being Moreton based.
I am attracted to a couple of maisonettes in Moreton both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Moreton is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. 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 property 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 Moreton 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 the agreed 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.
Moreton Conveyancing for Leasehold Flats - Sample of Queries before buying
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Are there any major works in the near future that could increase the maintenance charges? Does the lease have onerous restrictions? You will want to discover as much as you can about the company managing the building as they can either make living at the property much simpler or much more difficult. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day matters like the upkeep of the communal areas. Enquire of other tenants what they think of them. Finally, find out the dates that the service fees are due to the relevant party and specifically what it includes.