Much to our surprise we have been advised by our mortgage adviser that my Sonning Common lawyer is not on the mortgage company Solicitor panel. What can I do to be sure if this is correct?
The sensible course of action for you to take is to call your Sonning Common lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Do I need to pay for insurance to cover chancel repairs when acquiring a residence in Sonning Common?
Unless a prior acquisition of the premises completed after 12 October 2013 you may take it that solicitors carrying out conveyancing in Sonning Common to continue to advocate a chancel search and or chancel repair liability policy.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Sonning Common I like with a park and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Sonning Common suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Sonning Common and how can you help?
The 1954 Act affords security of tenure to business tenants, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Sonning Common is one of the many locations in which our lawyers have offices
Can you provide any top tips for leasehold conveyancing in Sonning Common from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Sonning Common can be avoided if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers. The majority of landlords or Management Companies in Sonning Common levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Sonning Common. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Sonning Common state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. If you dont have the approvals to hand do not communicate with the landlord without checking with your conveyancer in the first instance. If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a duplicate share certificate is often a time consuming formality and slows down many a Sonning Common conveyancing transaction. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible.
I inherited a 1 bedroom flat in Sonning Common, conveyancing formalities finalised in 2009. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Sonning Common with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2101
You have 76 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
I am buying a house with all finances in place. I have provided lawyer with 2 separate forms of photo ID, bank statement, endless utility bills. Now he needs a copy from a probate lawyer acknowledging that the money is legitimate and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Sonning Common conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.