I have given 8 weeks notice to my existing landlord and have to vacate my rented property in Seascale by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in six weeks as I wish to avoid having to find temporary accommodation?
Generally one should not provide notice for your tenancy unless you have exchanged. Assuming that you have not already done so, notify to your solicitor and ask them to they chase the sellers lawyers, try to an acceptable time-line that all parties will aim towards
Are there restrictive covenants that are commonly picked up as part of conveyancing in Seascale?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Seascale. 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 have been on the look out for a flat up to £245,000 and identified one near me in Seascale I like with open areas and station nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Seascale suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
I'm converting the mortgage on my primary home to a BTL mortgage with Leeds Building Society and I will use the rest of the raised equity towards a second property. The area we are looking at is Seascale. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?
Do use our search tool on this page to check that the solicitors are on the relevant lender panels. Having checked that they are your lawyer will be able to connect the two deals but you should have a chat with you solicitor and make apparent your expectations and needs.
We are 3 weeks into a residential purchase having been referred to a firm by the estate agent to execute conveyancing in Seascale. We are not happy. Can you help me find new lawyers?
They would have to be really poor in order to consider replacing them. Has the loan offer been issued? In the event that it has you will need to inform them of the new conveyancer and ensure the offer are re-issued. The solicitor ideally should be on the banks panel to avoid supplemental charges and frustration. That should be your first question of the new lawyers. The find a solicitor tool will assist you in finding a lender approved solicitor for your conveyancing in Seascale
Are there common defects that you come across in leases for Seascale properties?
There is nothing unique about leasehold conveyancing in Seascale. All leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall A duty to insure the building
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Skipton Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I purchased a studio flat in Seascale, conveyancing having been completed June 2002. How much will my lease extension cost? Equivalent properties in Seascale with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2089
With 63 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.