I have given 2 months notice to my current landlord and have to vacate my let out apartment in Watnall 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?
The normal practice is not to serve notice on a rental unless you have exchanged. Assuming that you have not previously done so, notify to your solicitor and request that they cajole the other solicitors, try to get a realistic time scale from them that all parties will look towards
A relative recommended that if I am buying in Watnall I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Watnall conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Watnall around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Watnall Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Watnall Education with maps and statistics, Local Amenities and other useful data about Watnall.
It has been 2 months since my purchase conveyancing in Watnall completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Watnall I like with a park and railway links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Watnall in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the expected 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 can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am thinking of appointing a conveyancing solicitor in Watnall for my remortgage. Can I review a solicitor's record with the legal regulator?
Anyone can review published Solicitor Regulator Association (SRA) determinations arising from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may recorded call for training requirements.
I am intending to let out my leasehold flat in Watnall. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Your lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Watnall do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I am the registered owner of a basement flat in Watnall, conveyancing formalities finalised in 1996. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Watnall with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2086
You have 61 years remaining on your lease the likely cost is going to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.