I have given 8 weeks notice to my current landlord and have to be out of my let out property in Calstock by 2/1/2025. Conveyancing on my purchase is underway. Can I complete in a couple of weeks as I wish to avoid having to move into short term accommodation?
The normal practice is not to serve notice for your lease unless your lawyer suggests that you should. Assuming that you have not previously done so, notify to your conveyancer and request that they chase the owners lawyers, try to get a realistic time scale from them that everyone will aim towards
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Calstock. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/11/2024, the requirements read as follows :
I have been told that property searches are the main cause of hinderance in Calstock house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Calstock.
I am looking for a ground for flat up to £195,000 and identified one round the corner in Calstock I like with amenity areas and railway links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Calstock for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
In my capacity as executor for the estate of my grandmother I am selling a residence in Cardiff but I am based in Calstock. My solicitor (who is 250 miles awayhas requested that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Calstock to attest and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are based in Calstock
I would like to let out my leasehold flat in Calstock. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A lease dictates relations between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Calstock do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I invested in buying a basement flat in Calstock, conveyancing was carried out 8 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? Similar flats in Calstock with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087
With only 63 years unexpired the likely cost is going to be between £16,200 and £18,600 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues 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 seeking the advice of a professional.