We are about to sign contracts for a ground floor flat in Cheadle. We encountered a stumbling block. The loan offer with Birmingham Midshires runs out on 23/9/2024 but the sellers are insisting on a completion date of 25/9/2024. Can one extend the loan expiry date?
The person best placed to address this issue is your conveyancer who should calculate whether they should be discussing with the bank, vendor’s conveyancers, selling agents or indeed all parties based on the circumstances your transaction as of today.
The Cheadle conveyancing solicitors that just started acting on my house acquisition in Cheadle have suddenly closed. I only went with them because I had to have a lawyer on the Lloyds conveyancing panel and my family Cheadle lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial property in Cheadle?
Its becoming the norm that commercial conveyancing solicitors in Cheadle will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Cheadle. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cheadle.
For each commercial conveyancing transaction in Cheadle it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Cheadle commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Cheadle.
The estate agent has sent us the confirmation of our purchase of a new build flat in Cheadle. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Cheadle
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Having had my offer accepted I require leasehold conveyancing in Cheadle. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Cheadle - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 1 bedroom flat in Cheadle, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Cheadle with an extended lease are worth £185,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2084
With only 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Been on the hunt for a property lawyer for leasehold sale conveyancing in Cheadle. I'm selling, uncomplicated no mortgage to discharge, no rush, currently empty. Received an estimate from a property lawyer for £1000 including VAT which is a tad expensive considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Cheadle?
As it’s a sale only, 475 + VAT would be about the best for a Cheadle solicitor firm.