I have given 8 weeks notice to my existing landlord and have to leave my let out flat in Lake District by 22/1/2025. Conveyancing on my purchase is underway. How realistic is it to complete in three weeks as don't want to have to move into short term accommodation?
It is unwise to provide notice for your lease unless exchange of contracts has taken place. If you have not already done so, speak to your solicitor and request that they apply pressure on the other lawyers, try to an agreed time frame that all parties will look to achieve
Should lawyers ask for money up-front for my conveyancing in Lake District?
Where you are retaining lawyers for conveyancing in Lake District your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the purchase price then this will be required shortly prior to exchange of contracts. The final balance that is due should be transferred a few days ahead of the completion date.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Lake District?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Lake District. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Lake District differ for new build properties?
Most buyers of new build residence in Lake District contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Lake District usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lake District or who has acted in the same development.
In my capacity as executor for the will of my father I am disposing of a house in Neath but reside in Lake District. My conveyancer (approximately 260 kilometers from mehas requested that I sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing practitioner in Lake District to witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Lake District based
I am a negotiator for a long established estate agency in Lake District where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Lake District conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Leasehold Conveyancing in Lake District - A selection of Queries Prior to Purchasing
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How is the lease structured? What restrictions are contained in the Lake District Lease? For many Lake District leaseholds the outlay for major works are not built into the service charges, albeit that some managing agents in Lake District ask tenants to pay into a reserve fund and this is used to offset against larger works.