I have given 2 months notice to my existing landlord and have to leave my rented flat in Biddenham by the end of next month. Conveyancing on my purchase has just started. Is it possible to complete in 5 weeks as don't want to have to move into temporary accommodation?
It is unwise to give notice for your tenancy unless exchange of contracts has taken place. If you have not already done so, update to your lawyer and ask them to they apply pressure on the sellers solicitors, try to an acceptable time-line that everyone will work to achieve
four months have gone by since my purchase conveyancing in Biddenham concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 property 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.
I am looking for a flat up to £305k and found one close by in Biddenham I like with amenity areas and railway links nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Biddenham for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I'm refinancing my existing property to a buy to let loan with Coventry Building Society and intend to use the remaining equity as a down payment on another property. The neighborhood we are interested in is Biddenham. Will your lawyers be able to act for the two banks and tie in the two deals?
Make use of our search tool on this site to check that the conveyancers are approved by both banks. On the basis that they are the solicitor will be able to connect the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.
Jane (my partner) and I may need to sub-let our Biddenham 1st floor flat temporarily due to a career opportunity. We instructed a Biddenham conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Biddenham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I inherited a basement flat in Biddenham, conveyancing having been completed August 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Biddenham with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2086
With only 62 years remaining on your lease we estimate the premium for your lease extension to span between £17,100 and £19,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
Why do Biddenham conveyancing charges are higher for leasehold and freehold properties?
When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control