We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to use a specialised conveyancing solicitor in Rawcliffe?
You should check but the chances are that give you one of their panel lawyers if you accept the "fee-free" incentive. Speak to the mortgage company and ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Rawcliffe.
I am looking for a ground for flat up to £195,000 and found one near me in Rawcliffe I like with a park and station nearby, however it only has 51 remaining years left on the lease. There is not much else in Rawcliffe in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may 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.
How simple is it to use the search tool to choose a conveyancing lawyer in Rawcliffe on the authorised to act for my bank?
First choose a bank such as Barclays , Chelsea Building Society or Aldermore then choose your preferred area such as Rawcliffe. Conveyancing firms in Rawcliffe and across England and Wales will then be listed.
As co-executor for the estate of my father I am disposing of a house in Swansea but I am based in Rawcliffe. My conveyancer (based 235 kilometers awayhas requested that I execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing solicitor in Rawcliffe to attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Rawcliffe based
I am attracted to a two apartments in Rawcliffe which have about fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Rawcliffe is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rawcliffe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a 1 bedroom flat in Rawcliffe, conveyancing having been completed June 2009. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Rawcliffe with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2078
With only 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
Is it possible for you to suggest a solicitor for purchasing a house? Ideally someone in Rawcliffe, who will communicate via email - not someone who insists on slow mail or fax.
The purpose of this site is restricted to being a directory service for conveyancing practitioners who wish to be listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Rawcliffe . We dont recommend any specific conveyancer.