Souldinstructing a Northamptonshire conveyancing practice make the ownership transfer smoother?
Existing third party relationships are another important factor to consider when choosing conveyancing lawyers. Northamptonshire conveyancers enjoy connections with mortgage brokers and selling, local authorities, valuers and other law firms meaning you will move in shortest possible time. Possessing a well rounded intelligence of the local area also helps too.
AssumingI was to acquire a straightforward propertyin Northamptonshire for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Northamptonshire?
The only reduction in fees you would achieve is the Northamptonshire conveyancing searches. The property lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors property lawyer, stamp duty return, register the property etc. A slight saving might be made by not having to register a mortgage however it will not be significant.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Northamptonshire I like with open areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Northamptonshire for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
We're first time buyers - had an offer accepted, yet the estate agent told us that the vendor will only proceed if we instruct their chosen solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Northamptonshire
We suspect that the seller is unaware of this demand. Should the vendor desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are serious buyers (b)you are ready to go, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to use your own,trusted Northamptonshire conveyancing firm - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing thresholds pre-set by senior management.
I am employed by a long established estate agent office in Northamptonshire where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Northamptonshire conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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 purchaser.
I inherited a leasehold flat in Northamptonshire, conveyancing having been completed March 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Northamptonshire with over 90 years remaining are worth £260,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2099
With just 74 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account 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 seeking the advice of a professional.
Why do I have to supply my conveyancing practitioner with various items of ID ahead of starting my conveyancing in Northamptonshire?
Northamptonshire solicitors are obliged by the Law Society, Solicitors Regulation Authority, the Land Registry and current Money Laundering legislation to record that the have verified the identity of their clients. It is also sometimes a condition of your lender if you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and DOB.