We were just about to sign contracts for a ground floor flat in Saltash. We encountered a problem. Our mortgage offer with Alliance & Leicester expires on 24/9/2021 but the sellers are putting forward a completion date of 28/9/2021. Is it possible to extend the loan offer?
The person best placed to deal with your issue is your solicitors who will calculate whether he or she is should be discussing with the mortgage company, seller’s solicitors, estate agents or possibly all parties taking into account the history of your transaction as of today.
Should commercial conveyancing searches disclose proposed roadworks that may impact a commercial property in Saltash?
Its becoming the norm that commercial conveyancing solicitors in Saltash will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Saltash. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Saltash.
For each commercial conveyancing transaction in Saltash it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Saltash commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Saltash.
I am purchasing a new build house in Saltash with a mortgage from Barclays Direct. The developers refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my conveyancer about this side-deal as it could put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £195,000 and identified one near me in Saltash I like with open areas and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Saltash suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
In what way does the Landlord & Tenant Act 1954 impact my business property in Saltash and how can you help?
The particular law that you refer to gives protection to commercial lessees, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Saltash is one of our many areas of the UK in which the firms we work with are based
I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Saltash. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Saltash ?
The majority of houses in Saltash are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Saltash in which case you should be shopping around for a Saltash conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
I inherited a garden flat in Saltash, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Saltash with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2100
With only 79 years left to run the likely cost is going to be between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.