Can I use your services to recommend a Conveyancing solicitor in Prestwich even where I’m not buying or selling a house, for instance if I wish to acquire an office in Prestwich with a mortgage from Platform Home Loans Ltd?
Our comparison service is primarily there to get a quote from domestic conveyancing solicitors in Prestwich but we have listed at the bottom of this page a selection of Prestwich commercial conveyancing firms. You will need to enquire with the solicitors directly to establish if they can also act for Platform Home Loans Ltd
I require quick conveyancing in Prestwich as I am under a deadline to exchange contracts within 4 weeks. Luckily I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to do searches although no law firm would recommend that you don't. With lots of history conveyancing in Prestwich the following are instances of issues that can arise and therefore affect the marketability of the property: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I'm buying my first flat in Prestwich with the aid of help to buy. The developers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it would affect my mortgage with Nottingham Building Society. 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Prestwich I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. There is not much else in Prestwich in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Hoping to buy a property located in Prestwich and I am already nervous. I couldn't find anything specific about Prestwich. Conveyancing will be needed in due course but do you know about the Prestwich area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Prestwich. In the meantime here are some basic statistics that we found
I am employed by a busy estate agency in Prestwich where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Prestwich conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a 1 bedroom flat in Prestwich, conveyancing was carried out November 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Prestwich with an extended lease are worth £176,000. The ground rent is £50 levied per year. The lease finishes on 21st October 2106
With only 80 years left to run the likely cost is going to be between £7,600 and £8,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.