My partner and I are acquiring a newly built apartment in Hartlepool and my conveyancer is informing me that she has to the lender to reveal incentives from the builder. I am under pressure to exchange and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Hartlepool and how can you help?
The particular law that you refer to provides protection to commercial leaseholders, giving them the dueness to apply to court for a renewal tenancy and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Hartlepool
My partner has recommend that I use his conveyancers in Hartlepool. Should I use them?
Much as we are happy to recommend a Hartlepool conveyancing lawyer the ideal way to choose a conveyancing practitioner is to have recommendations from friends or family who have actually used the solicitor you're considering.
Can you provide any advice for leasehold conveyancing in Hartlepool with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hartlepool can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives. The majority of freeholders or Management Companies in Hartlepool levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Hartlepool. If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and delays many a Hartlepool conveyancing deal. If a reissued share is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
I acquired a leasehold flat in Hartlepool, conveyancing was carried out in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Hartlepool with an extended lease are worth £201,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2085
With 64 years unexpired we estimate the price of your lease extension to be between £14,300 and £16,400 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
One month into purchasing a residence in Hartlepool. Conveyancing solicitor has told us the property is "Leasehold". Will this likely impact the salability of the house?
Hartlepool conveyancing does not ordinarily involve leasehold houses. The crucial factor here is the unexpired lease term and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the marketability too much.
On the flip side, if it's, say, fifty five years it will have a material impact on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be set out in the lease which should be made available to your solicitor.