We were just about to exchange contracts for a ground floor flat in Prestwich. We have hit a problem. Our mortgage offer with Accord Mortgages Ltd expires on 18/9/2024 but the vendors are insisting on a completion date of 20/9/2024. Can one prolong the loan offer?
The best person to address this concern is your solicitors who will assess if they better off negotiating with the mortgage broker, owner’s conveyancers, estate agents or indeed all three given the history of your conveyancing to date.
Can I use your services to find a Conveyancing solicitor in Prestwich even if I’m not purchasing or disposing of a house, for example if I wish to buy a shop in Prestwich with a loan from Alliance & Leicester ?
Our search tool is mainly utilised to locate residential conveyancing solicitors in Prestwich but we have set out towards the bottom of this page some Prestwich commercial conveyancing firms. You should make contact with the solicitors directly to check if they can also act for Alliance & Leicester
I used Wolstenholmes several years ago for my conveyancing in Prestwich. I now require my file however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Prestwich of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a flat up to £195,000 and found one near me in Prestwich I like with amenity areas and railway links nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Prestwich suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I have been sourcing a conveyancing practitioner in Prestwich for my house move. Can I review a firm’s record with the profession’s regulator?
Members of the public may search for presented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could recorded call for training reasons.
Are there frequently found deficiencies that you see in leases for Prestwich properties?
There is nothing unique about leasehold conveyancing in Prestwich. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the premises
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
I am the registered owner of a 2 bed flat in Prestwich, conveyancing was carried out in 1997. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Prestwich with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2101
With just 77 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.