How does conveyancing in Irlam and Cadishead differ for newly converted properties?
Most buyers of new build premises in Irlam and Cadishead contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because developers in Irlam and Cadishead tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Irlam and Cadishead or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Irlam and Cadishead prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders may refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Irlam and Cadishead. Conveyancing may be slightly more expensive based on your lender's requirements.
How difficult is it to swap conveyancer as I need to appoint a firm on the The Royal Bank of Scotland conveyancing panel. I was using a family conveyancing solicitor in Irlam and Cadishead round the corner but he is not accepted by The Royal Bank of Scotland
It would be our pleasure to assist you find a conveyancing solicitor in Irlam and Cadishead on the The Royal Bank of Scotland panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Irlam and Cadishead. In utilising the find a conveyancing solicitor tool on this page, you can compare costs for conveyancing solicitors in Irlam and Cadishead and beyond.
I am employed by a busy estate agent office in Irlam and Cadishead where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Irlam and Cadishead conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 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 buyer.
I bought a leasehold flat in Irlam and Cadishead, conveyancing having been completed 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Irlam and Cadishead with an extended lease are worth £197,000. The ground rent is £55 yearly. The lease ends on 21st October 2080
With 56 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously 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.
Why am I unable to complete my conveyancing in Irlam and Cadishead on Easter Monday?
Because on completion the purchase price will pass between the banks of the purchaser and seller's conveyancing practitioner and currently this can only occur on a business day. So you can't complete on a weekend either.