I have 7378 less than 75 years remaining on my lease and require a lease extension for my apartment in Leek. Conveyancing solicitors on the Virgin panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/4/2024 the requirements read as follows :
I am planning to move house in July. Does my conveyancing solicitor update the removal company on the completion day. As an aside, can you suggest a removal company in Leek. Conveyancing firm was chosen prior to coming across this site.
On the afternoon of completion you can collect the house keys from the property agent but this can only occur once the vendors conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you can tell the removal company that they can start moving you in. We do not recommend a specific removal company but can assist you in locating a residential property solicitor in Leek or a firm that specialises in conveyancing in Leek.
We previously selected conveyancing lawyers locally in Leek on the Leeds Building Society solicitor approved list. They have just invoiced me a separate amount for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer can charge a fee for this. The charge is not set by Leeds Building Society but by your Leek lawyer. Plenty of firms on the Leeds Building Society panel will quote an ‘acting for lender’ fee and others do not.
My wife and I are in the throws of viewing houses in Leek and I am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with TSB.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
Due to the advice of my in-laws I had a survey completed on a property in Leek before retaining lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to give a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Leek. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Leek to see if the conveyancing costs will increase in light of this.
Do you have any advice for leasehold conveyancing in Leek with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Leek can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a re-issued share certificate can be a lengthy formality and slows down many a Leek home move. If a reissued share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Leek state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such works. If you dont have the paperwork in place do not communicate with the landlord without checking with your solicitor first. You may think that you are aware of the number of years left on your lease but you should double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I am the registered owner of a leasehold flat in Leek, conveyancing was carried out July 2004. 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? Comparable flats in Leek with over 90 years remaining are worth £181,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2075
You have 51 years remaining on your lease we estimate the price of your lease extension to be between £30,400 and £35,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
How much will conveyancing in Leek cost?
The total sum charged for conveyancing in Leek are likely to be calculated at:
- a set sum; or
- on a time spent basis (i.e. the time spent on the particular case).
In practice you seldom hear of Leek conveyancing companies invoice on an hourly basis