I have given 8 weeks notice to my current landlord and have to vacate my let out flat in Mountsorrel by 15/12/2025. Conveyancing on my purchase has just started. How realistic is it to complete in a couple of weeks as don't want to have to find short term accommodation?
It is unwise to provide notice on a rental until your lawyer suggests that you should. If you have not previously done so, contact to your solicitor and urge them to they chase the sellers lawyers, try to an acceptable time-line that everyone will work towards
Why is leasehold purchase conveyancing in Mountsorrel costs more?
Mountsorrel leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Various web forums that I have visited warn that are the primary reason for stalling in Mountsorrel conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Mountsorrel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Mountsorrel?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Mountsorrel. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Mountsorrel benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not disclose to my lawyer about this extras as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am hoping to complete next month on a studio apartment in Mountsorrel. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Mountsorrel should include some of the following:
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The total extent of the demise. This might be the apartment itself but may incorporate a loft or basement if applicable. What remedies are open the freeholder should you have contravened the provisions of the lease? You would want to receive a copy of the lease An explanation concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the wider rights a leaseholder has Responsibility for repairing the window frames
I am the registered owner of a basement flat in Mountsorrel, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Mountsorrel with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2080
With only 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.