Willretaining a Middlewich conveyancing lawyer make the ownership transfer smoother?

Middlewich is a special area, where local know-how is a big bonus. The laid-back lifestyle has it’s attractions – but not for your house move. The solicitors that we recommend host specialist Middlewich knowledge with a professional, can doapproach that helps the conveyancing to progress hassle free. It will certainly help if they benefit from well established rapport with mortgage brokers, search providers, valuers and other Middlewich conveyancing firms

My Middlewich conveyancer has uncovered a discrepancy between the surveyor’s assumptions in the valuation survey and what is in the title deeds. My lawyer informs me that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?

Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Do commercial conveyancing searches reveal planned roadworks that may impact a commercial estate in Middlewich?

Its becoming the norm that commercial conveyancing solicitors in Middlewich will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Middlewich. The search result provides 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 Middlewich.

For every commercial conveyancing transaction in Middlewich it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Middlewich commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Middlewich.

How does conveyancing in Middlewich differ for newly converted properties?

Most buyers of new build premises in Middlewich approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Middlewich usually purchase the land, 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 conveyancing solicitors 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 used to new build conveyancing in Middlewich or who has acted in the same development.

I am attracted to a two maisonettes in Middlewich both have in the region of forty five years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Middlewich is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Middlewich conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I purchased a garden flat in Middlewich, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Middlewich with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2078

You have 56 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues 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 before getting professional advice.