I have given 8 weeks notice to my current landlord and must vacate my let out property in Aylestone by 5/6/2024. Conveyancing for my house purchase is underway. Is it possible to complete in 5 weeks as I wish to avoid having to find short term accommodation?
Generally one should not give notice for your tenancy unless your lawyer suggests that you should. If you have not previously done so, contact to your lawyer and request that they cajole the owners side, try to get a realistic time scale from them that all parties will work towards
We are purchasing a house in Aylestone. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to deposit money into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am assisting my aunt sell her flat in Aylestone. Will the conveyancer commission the energy performance certificate or it is for the seller to coordinate?
After the abolition of HIPs, EPC’s was left as a mandatory component of selling a property. An EPC needs to be to hand in advance of the property being advertised. It is not a task that law firms normally organise. If you are instructing a Aylestone conveyancing solicitor they may be willing to arrange energy assessments due to their contacts with reputable Aylestone assessors
Have just purchased a probate house at auction in Aylestone. Conveyancing is required. What happens now?
Now that you are exchanged you now have to hire the services of a conveyancing lawyer quickly as you are faced with a pending a fixed date to complete the property. All auction property should have a corresponding legal pack. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the legal pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are organised to complete on the date specified in the contract.
I am purchasing a new build house in Aylestone with a loan from Skipton Building Society. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my lawyer about the deal as it would put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a ground for flat up to £235,500 and found one close by in Aylestone I like with a park and station nearby, however it only has 61 years unexpired on the lease. There is not much else in Aylestone for this price, 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 an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Do I need to be suspicious by estate agents that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Aylestone conveyancing firm?
As with many service providers, often recommendations from connections can be worth their weight in gold. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to use. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to select your preferred lawyer. However, bear in mind that most mortgage providers have an approved list of conveyancers you have to use for the mortgage aspect of your transaction.
Harry (my fiance) and I may need to rent out our Aylestone garden flat for a while due to a new job. We used a Aylestone conveyancing practice in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Aylestone conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without prior consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I acquired a leasehold flat in Aylestone, conveyancing having been completed in 1998. 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? Corresponding properties in Aylestone with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2084
With 60 years unexpired we estimate the price of your lease extension to span between £20,000 and £23,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.