I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in Griffithstown with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Griffithstown?
Many commercial conveyancing solicitors in Griffithstown will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Griffithstown. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Griffithstown.
For each commercial conveyancing transaction in Griffithstown it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Griffithstown commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Griffithstown.
How does conveyancing in Griffithstown differ for newly converted properties?
Most buyers of new build property in Griffithstown contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Griffithstown typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Griffithstown or who has acted in the same development.
I am looking at a couple of flats in Griffithstown which have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming 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 difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
I inherited a ground floor flat in Griffithstown, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Griffithstown with an extended lease are worth £181,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2070
With 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
I have been looking for Griffithstown online conveyancing estimates. Can I be sure that all the Griffithstown firms that are identified on your directory are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Griffithstown firm being on the lender conveyancing panel is incorrect.