Will conveyancers ask for an advanced payment for conveyancing in Chapel Allerton?
If you are buying a property in Chapel Allerton your solicitor will ask you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the sale price then this should be asked for immediately prior to contracts are exchanged. The final balance that is due will be payable a couple of days prior to the day of completion.
How do I discover of the solicitor handling my conveyancing in Chapel Allerton is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Alliance & Leicester thus paying £192.00 in further legal bill.
You should take advantage of the find a lender approved solicitor tool on this site. Please choose the lender and type ‘Chapel Allerton’ or your location and you will see numerous conveyancers located in Chapel Allerton or near you.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Chapel Allerton I like with a park and station nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Chapel Allerton suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
I am attracted to a couple of flats in Chapel Allerton which have about 50 years left on the leases. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field.
I bought a ground floor flat in Chapel Allerton, conveyancing was carried out half a dozen years ago. 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? Similar properties in Chapel Allerton with a long lease are worth £195,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2081
With only 63 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other 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 placing reliance on this information without first getting professional advice.
Should I cancel my mortgage payments with HSBC once a completion date for my home sale in Chapel Allerton has been set?
You are best advised to keep meeting any mortgage sums to HSBC until the mortgage is discharged out of the proceeds of sale as part of your Chapel Allerton conveyancing.