At what point will exchange of contracts occur in domestic conveyancing in Ambleside and am I required to be at the solicitors office?

Where you are in close proximity to one of the conveyancing solicitors in Ambleside you are welcome to attend to sign contracts. However, the law practices we work with provide a national conveyancing service and give as equally detailed and professional a job for you when communicating with you electronically. The signing of the property agreement is not when everything is set in stone. A signed contract is just a prerequisite for the firm to officially exchange at the appropriate time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ambleside)to be in the office available at the end of the phone to exchange contracts.

four months have gone by since my purchase conveyancing in Ambleside took place. I have checked the Land Registry website which shows that I paid £200,000 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 property 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'm buying my first flat in Ambleside with a loan from Birmingham Midshires. The sellers would not move on the price so I negotiated 6k of extras instead. The estate agent told me not disclose to my lawyer about the deal as it would affect my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.

We're new to the buying process - had an offer accepted, but the selling agent has warned us that the seller will only issue a contract if we instruct their recommended conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Ambleside

It is unlikely the vendors are driving this. Should the owner require ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Contact the owners directly and make sure they understand (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you are going to use your preferred Ambleside conveyancing solicitors - as opposed tothose that will earn the estate agent a referral fee or hit his conveyancing targets demanded by corporate headquarters.

I am employed by a reputable estate agent office in Ambleside where we have witnessed a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Ambleside conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

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 purchaser.

I acquired a studio flat in Ambleside, conveyancing formalities finalised 6 years ago. How much will my lease extension cost? Equivalent properties in Ambleside with an extended lease are worth £190,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2087

With 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.