I am looking for value for money property lawyer. Do I opt for a web based conveyancer as opposed to a family Lake District conveyancing solicitor?
Established third party connections are another important factor to consider when appointing conveyancing solicitors. Lake District law firms enjoy long term relationships with mortgage brokers and agents, local authorities, surveyors and other conveyancing firms meaning you will move in shortest possible time. Hosting a well rounded knowledge of the local area is an advantage.
We note that you have a search directory listing law firms on the Bank of Ireland conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Lake District?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lake District.
The estate agent has sent us the confirmation of our purchase of a new build flat in Lake District. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Lake District
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I opted to have a survey completed on a house in Lake District prior to appointing conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders tend refuse to grant a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lake District. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lake District to see if the conveyancing will be more expensive.
I am employed by a busy estate agent office in Lake District where we see a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Lake District conveyancing firms. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Lake District - Sample of Queries before Purchasing
The prefered form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and although a managing agent is usually retained where the building is larger than a house conversion, the managing agent retained by the leaseholders. Is anyone aware of any major works in the planning that could increase the maintenance charges? It is important to be aware whether fixing the lift or some other major work is due in the near future that will be shared between the leaseholders and may well dramatically increase the the service fees or require a one time payment.