I have given 2 months notice to my existing landlord and have to vacate my let out flat in Thame by 18/6/2026. Conveyancing for my house purchase has just started. Is it possible to complete in 4 weeks as don't want to have to move into short term accommodation?
It is unwise to serve notice for your tenancy unless your lawyer suggests that you should. If you have not already done so, contact to your solicitor and ask them to they apply pressure on the other solicitors, try to get a realistic time scale from them that everyone will look towards
Will my solicitor be making enquiries concerning flooding during the conveyancing in Thame.
The risk of flooding is if increasing concern for lawyers dealing with homes in Thame. There are those who buy a property in Thame, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be carried out by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Thame. The conventional set of information supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the owner, then a purchaser may bring a legal claim for losses as a result of such an inaccurate response. A buyer’s lawyers may also commission an enviro report. This will reveal if there is any known flood risk. If so, more detailed investigations should be initiated.
2 months have gone by since my purchase conveyancing in Thame took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £305k and identified one near me in Thame I like with amenity areas and transport links in the vicinity, however it's only got 51 years on the lease. There is not much else in Thame suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am employed by a reputable estate agency in Thame where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Thame conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a garden flat in Thame, conveyancing formalities finalised September 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Thame with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2083
With only 57 years unexpired we estimate the price of your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
I'm selling a property in Thame. I can find my conveyancer's company on the Law Society's list, but I can't find my lawyer's name on the list. Should I be concerned?
Not every individual in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unqualified staff.