I have given 2 months notice to my current landlord and must leave my let out apartment in Eye by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in three weeks as I wish to avoid having to move into short term accommodation?
It is unwise to serve notice on a rental unless you have exchanged. Assuming that you have not previously done so, notify to your solicitor and urge them to they cajole the other side, try to get a realistic time scale from them that everyone will look towards
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial land in Eye?
Many commercial conveyancing solicitors in Eye will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Eye. The search result provides definitive information 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 Eye.
For every commercial conveyancing transaction in Eye 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 Eye commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Eye.
I am buying my first flat in Eye benefiting from help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my lawyer about this extras as it will put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Eye is where the house is located. What do you suggest?
Flying freeholds in Eye are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eye you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eye may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How does the Landlord & Tenant Act 1954 impact my business premises in Eye and how can your lawyers assist?
The 1954 Act provides security of tenure to business tenants, granting the legal entitlement to make a request to court for a renewal tenancy and remain in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Eye
I am employed by a long established estate agent office in Eye where we see a number of flat sales derailed as a result of short leases. I have been given conflicting advice from local Eye conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I purchased a 1st floor flat in Eye, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Eye with a long lease are worth £222,000. The ground rent is £50 per annum. The lease ceases on 21st October 2096
With just 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.