I have given 8 weeks notice to my existing landlord and must leave my rented flat in Lytham by 29/10/2024. Conveyancing on my purchase is progressing. Is it possible to complete in three weeks as don't want to have to move into temporary accommodation?
The normal practice is not to provide notice for your tenancy unless exchange of contracts has taken place. If you have not already done so, speak to your lawyer and request that they apply pressure on the sellers solicitors, try to an acceptable time-line that all parties will look to achieve
What does my ID and proof of funds have anything to do with my conveyancing in Lytham? Is this really necessary?
You are right in the requirement set out by your lawyer has nothing to do with conveyancing in Lytham. However these days you can not proceed with any conveyancing process without first providing evidence of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable in the absence of the other.
Proof of your origin of money is required under Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer will need to have this information on file. Your Lytham conveyancing solicitor will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional queries regarding the origin of funds.
I am purchasing a new build house in Lytham with a loan from The Royal Bank of Scotland. The builders would not budge the amount so I negotiated 6k of additionals instead. The property agent advised me not inform my solicitor about the extras as it may adversely affect my loan with The Royal Bank of Scotland. Is this normal?.
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.
I have been recommended by numerous selling agents in Lytham to find a property lawyer on your site. What’s the financial advantage for Estate Agents to offer your lawyers ahead of a competitor’s?
We don’t give any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to instruct a conveyancing solicitor for my conveyancing in Lytham. I happened to discover a site which appears to be the perfect solution If it is possible to get all formalities completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having had my offer accepted I require leasehold conveyancing in Lytham. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Lytham - 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 bought a 1 bedroom flat in Lytham, conveyancing formalities finalised February 1999. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Lytham with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2089
With 65 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues 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 based on this information without first getting professional advice.