We have rather brash vendors who has suggested a lock out contract with a deposit of 5k. Is it wise to enter into such agreements?
This type of preliminary agreement is not the norm in Chalfont St Giles, conveyancers are not keen on them as they detract from focusing on the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Furthermore, there is no certainty that just because the vendor has entered into a lock out agreement they will complete the sale with you. They may be in contravention of the contract if they receive a large enough financial inducement to do so because a wronged claimant with the benefit of a exclusivitycontract will still be legally obliged to establish consequential losses from the breach and these may not amount to the financial upside that your seller may secure by breaking the contract, however morally unworthy the behaviour is.
I have Fifty Six years remaining on my lease and require a lease extension for my flat in Chalfont St Giles. Conveyancing solicitors on the Virgin panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/10/2020 the requirements read as follows :
I opted to have a survey carried out on a property in Chalfont St Giles before instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not give a loan on such a home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chalfont St Giles. Conveyancing will be smoother if you use a solicitor in Chalfont St Giles especially if they regularly deal with such properties in Chalfont St Giles.
Hoping to buy a property located in Chalfont St Giles and I am already nervous. I couldn't find anything specific about Chalfont St Giles. Conveyancing will be needed in due course but do you know about the Chalfont St Giles area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Chalfont St Giles. In the meantime here are some basic statistics that we found
I am in need of some leasehold conveyancing in Chalfont St Giles. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Chalfont St Giles - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a 1 bedroom flat in Chalfont St Giles, conveyancing having been completed February 2004. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Chalfont St Giles with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2072
With just 52 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 plus costs.
The figure 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 this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.