Having spent time scouring mumsnet.com for an affordable lawyer in Thame, many comment that I must instruct a CQS accredited lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's major lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Society for Licensed Conveyancers. Thame is one of the numerous areas of the UK where there are CQS lawyers.
A relative recommended that where I am purchasing in Thame I should carry out 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 Thame conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Thame around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Thame Education with maps and statistics, Local Amenities and other useful information about Thame.
I'm buying a new build house in Thame benefiting from help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not inform my solicitor about the extras as it could put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Thame and how can your lawyers assist?
The particular law that you refer to affords protection to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Thame is one of the numerous locations in which our lawyers are located
I work for a long established estate agency in Thame where we have experienced a few leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Thame conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 purchaser.
I invested in buying a 1 bedroom flat in Thame, conveyancing was carried out 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Thame with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2099
With 75 years left to run the likely cost is going to span between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be 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 getting professional advice.