I'm the only recipient of my late grandmother’s will with all property in now in my sole name, including the house in Stamford Bridge. The Stamford Bridge property was put into my name in October. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the house in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some mortgage companies would take a practical view as this clause is chiefly there to identify the purchase and immediately sell or the quick reselling of properties.
Two weeks ago we had a mortgage agreed in principle with Barclays. Stamford Bridge conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Barclays?
There is no definitive answer here. Have Barclays done the valuation? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
About to purchase flat in Stamford Bridge. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stamford Bridge property lawyer is on the Aldermore conveyancing panel.
What does a local search reveal regarding the property we're buying in Stamford Bridge?
Stamford Bridge conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search is essential in every Stamford Bridge conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Stamford Bridge is where the house is located. Can you offer any assistance?
Flying freeholds in Stamford Bridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stamford Bridge you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford Bridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Stamford Bridge and how can your lawyers assist?
The particular law that you refer to affords protection to commercial tenants, giving them the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Stamford Bridge
There are only Sixty One years left on my flat in Stamford Bridge. I now want to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. In some cases an enquiry agent should be helpful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Stamford Bridge.
I purchased a studio flat in Stamford Bridge, conveyancing was carried out in 2010. How much will my lease extension cost? Equivalent flats in Stamford Bridge with an extended lease are worth £191,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2077
With just 53 years left to run the likely cost is going to span between £27,600 and £31,800 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.