I have given 8 weeks notice to my existing landlord and have to leave my let out property in East Yorkshire by 13/8/2018. Conveyancing for my house purchase is progressing. Is it possible to complete in 4 weeks as I wish to avoid having to find temporary accommodation?
It is unwise to serve notice on a rental unless exchange of contracts has taken place. Assuming that you have not already done so, speak to your conveyancer and request that they seek the assistance the other side, try to an acceptable time-line that all parties will aim to achieve
It is is a decade since I acquired my house in East Yorkshire. Conveyancing solicitors have now been retained on the sale but I can't track down my title deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be retained by the lender or they may still be with the solicitor who handled the purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in East Yorkshire involves registered property but in the rare situation where your home is not registered it is more of a problem but is resolvable.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who handled the conveyancing in East Yorkshire 5 years ago have long since closed. What are my next steps?
Assuming the title is registered the information relating to your ownership will be retained by the Land Registry under a Title Number. It is easy to perform a search at the Land Registry, locate your house and secure current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will usually retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in East Yorkshire I like with amenity areas and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in East Yorkshire in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the shortness of the lease may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years 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 speak to your conveyancing solicitor concerning this matter.
What advice can you give us when it comes to choosing a East Yorkshire conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a East Yorkshire conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non East Yorkshire conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
Can they put you in touch with clients in East Yorkshire who can give a testimonial?
I acquired a garden flat in East Yorkshire, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in East Yorkshire with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2090
With 72 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure 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. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.