I am in need of a conveyancer. Should I go for for a nationwide conveyancer or a family Portland conveyancing solicitor?
Portland is a unique place, where regional insight counts for a lot. The laid-back lifestyle is great – just not when it comes to your house move. The conveyancers that we endorse possess exhaustive Portland knowledge with a professional, can doattitude that helps the conveyancing to progress with the minimum of fuss. It is a definite plus where they enjoy long term relationships with financial advisers, search providers, valuers and other Portland conveyancing practitioners
We are about to exchange contracts for a ground floor flat in Portland. We encountered a snag. Our loan offer with Accord Mortgages Ltd runs out on 11/6/2024 but the sellers are suggesting a completion date of 13/6/2024. Can one extend the mortgage offer?
The person best placed to deal with your concern is your solicitors who is in a position to calculate whether he or she is corresponding with the lender, vendor’s representatives, selling agents or conceivably all three based on the history of your house move as of today.
My apartment in Portland is up for sale and I have a buyer. Does the conveyancing practitioner need to be on the Coventry BS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
The deeds to our house can not be found. The lawyers who did the conveyancing in Portland 4 years ago have long since closed. What are my options?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to find all the suitable documentation so you can buy or sell your house without any difficulty. Where duplicates can’t be found, your lawyer can put in place insurance or indemnities protecting you against future claims on your property.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Portland I like with open areas and station in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Portland for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Last October I purchased a leasehold house in Portland. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a 2 bed flat in Portland, conveyancing was carried out 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Portland with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2087
With 63 years left to run the likely cost is going to span between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.