I have given 8 weeks notice to my existing landlord and must leave my let out property in Leigh On Sea by 31/1/2024. Conveyancing on my purchase is progressing. How realistic is it to complete in 4 weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to serve notice for your tenancy unless your lawyer suggests that you should. If you have not previously done so, speak to your lawyer and request that they cajole the owners lawyers, try to an acceptable time-line that everyone will aim towards
How up to date is your database of Leigh On Sea solicitors on the Barclays conveyancing panel? Do Barclays send you an updated list?
Leigh On Sea conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
My wife and I purchased a 4 bedroom Georgian property in Leigh On Sea. Conveyancing lawyer acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Leigh On Sea and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing practitioner who completed the work.
My cousin has suggested that I use his conveyancing solicitors in Leigh On Sea. Should I use them?
There are no two ways about it the best way to select a conveyancing solicitor is to seek feedback from friends or family who have actually experience in using the conveyancer that you are considering.
I am employed by a busy estate agent office in Leigh On Sea where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Leigh On Sea conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner 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. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
I own a 1 bedroom flat in Leigh On Sea, conveyancing was carried out 9 years ago. How much will my lease extension cost? Comparable flats in Leigh On Sea with a long lease are worth £227,000. The ground rent is £50 yearly. The lease ends on 21st October 2095
With just 72 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
Sixweeks into purchasing a house in Leigh On Sea. Conveyancing lawyer has told us the property is "Leasehold". Will this likely impact the marketability of the property?
Leigh On Sea conveyancing does not in most situations involve leasehold houses. The crucial factor here is the remaining lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it shouldn't impact the saleability too much.
On the flip side, if it's, say, 50 years it will have a significant effect on the saleability, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be specified in the lease provided to your conveyancing practitioner.