We are a couple about to exchange contracts for a leasehold flat in Melbourne. We have hit a snag. The mortgage offer with Barclays Direct runs out on 8/6/2021 but the sellers are putting forward a completion date of 10/6/2021. Can one prolong the mortgage expiry date?
The best person to deal with your question is your solicitors who will hopefully determine whether they corresponding with the mortgage broker, vendor’s conveyancers, selling agents or conceivably all three given what has gone on in your house move to date.
I require expedited conveyancing in Melbourne as I am under an ultimatum to complete within one month. Luckily I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not getting a home loan you are at free not to do searches although no conveyancer would suggest that you don't. With lots of history conveyancing in Melbourne the following are examples of what can show up and adversely affect market value: Refused Planning Applications, Outstanding Fees, Overdue Grants, Road Schemes,...
I am looking for a leasehold apartment up to £235,500 and identified one near me in Melbourne I like with open areas and transport links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Melbourne for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
In my capacity as executor for the estate of my grandmother I am disposing of a property in Monmouth but live in Melbourne. My lawyer (based 260 miles from mehas requested that I execute a statutory declaration before completion. Could you suggest a conveyancing solicitor in Melbourne who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Melbourne
Having checked my lease I have discovered that there are only 62 years left on my flat in Melbourne. I need to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. On the whole a specialist would be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Melbourne.
I bought a studio flat in Melbourne, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Melbourne with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2095
With only 74 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
We are thinking of using a web based conveyancer ahead of a Melbourne conveyancing practice. Should I ‘stay local’?
Various benefits exist in having the opportunity to visit a local Melbourne conveyancing solicitor such as
- signing papers same day
- often being able to speak to someone face-to-face can make a huge difference, particularly for more complex transactions
- the ability to raise concerns if matters are not going as expected
When analysing fees, look carefully for hidden extras. Most decent Melbourne high street solicitors give an all-inclusive figure. Many online agents seem to offer discounted prices, but have burried 'extras' in the fine print.