Just contacted my conveyancing lawyer in Lytham St Annes who completed the legal work 18 months ago and wanted a conveyancing estimate based on an identical type of home move (a leasehold residence and a freehold premises) of similar values with a home loan from Aldermore. It looks as though am now being quoted twice the amount. Stick with what I know or should I seek out a cheaper internet conveyancer?
The charges are a tad high. If you shop around you could trim some of the expense by as much as £100 plus VAT. That being said, assuming were content with the service the firm provided you maycome to regret opting for an an unknown conveyancer. If is important to be sure that the conveyancer can act for Aldermore. You can employ our search tool to choose a Lytham St Annes conveyancing firm on the Aldermore approved list of lawyers, which can often include conveyancing solicitors in Lytham St Annes.
A colleague advised me that where I am buying in Lytham St Annes I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Lytham St Annes conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Lytham St Annes around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lytham St Annes Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Lytham St Annes Education with maps and statistics, Local Amenities and other useful information about Lytham St Annes.
I am buying a new build house in Lytham St Annes benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The estate agent advised me not to tell my lawyer about the side-deal as it may jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Lytham St Annes I like with open areas and transport links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Lytham St Annes for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
How simple is it to use the search facility to choose a conveyancing lawyer in Lytham St Annes on the panel for my mortgage?
First choose a lender such as Lloyds TSB Bank, Leeds Building Society or Platform Home Loans Ltd then specify your preferred area such as Lytham St Annes. Conveyancing organisations in Lytham St Annes and further afield should be identified.
I work for a reputable estate agency in Lytham St Annes where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Lytham St Annes conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension process 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. This means that the buyer need not have to wait 2 years for a lease extension. 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.
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 purchased a ground floor flat in Lytham St Annes, conveyancing having been completed 9 years ago. How much will my lease extension cost? Similar flats in Lytham St Annes with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2094
With 69 years left to run the likely cost is going to span between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.