I have given 2 months notice to my existing landlord and must vacate my rented flat in Southwold by 14/2/2025. Conveyancing for my house purchase has just started. How realistic is it to complete in 4 weeks as don't want to have to move into short term accommodation?
Generally one should not serve notice for your letting unless you have exchanged. Assuming that you have not already done so, update to your lawyer and request that they cajole the sellers side, try to an acceptable time-line that everyone will aim to achieve
It is a dozen years since I acquired my home in Southwold. Conveyancing lawyers have just been appointed on the sale but I can't find my title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they may be archived with the solicitor who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Southwold involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Southwold I like with a park and transport links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Southwold for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
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At this site obtain an accurate quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Southwold. Unlike many estate agents and many comparison sites we do not operate kick-back deals with solicitors. Many agents and online brokers 'recommend' the firm paying the most kickback, rather than the best value conveyancing in Southwold
Having had my offer accepted I require leasehold conveyancing in Southwold. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Southwold - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Southwold Leasehold Conveyancing - A selection of Queries before buying
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What restrictions exist in the Southwold Lease? Are any of leasehold owners in dispute over their service charge payments? If a Southwold lease has less than 80 years it will impact the marketability of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering how much this will be. For most Southwoldlease extensions you would need to own the residence for two years before you are entitled to carry out a lease extension.
Two months into purchasing a property in Southwold. Conveyancing solicitor has called to say the property is "Leasehold". Should this adversely affect our Halifax valuation?
Southwold conveyancing does not normally involve leasehold houses. The key consideration here is the unexpired lease term and the ground rent. If it's 999 years with a nominal rent, it's essentially freehold, so it’s unlikely to impact the saleability significantly.
At the other extreme, if it's, say, fifty five years it is bound to have a adverse effect on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease to be supplied to your conveyancing practitioner.