Find a Newcastle under Lyme Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Newcastle under Lyme? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Newcastle under Lyme home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Newcastle under Lyme conveyancers for over 130 lenders.

Recently asked questions about conveyancing in Newcastle under Lyme

Please could you vouch for a Birmingham Midshires sanctioned Newcastle under Lyme conveyancing practice finish our house move within a very limited time frame? Would it be better to use a local Newcastle under Lyme conveyancer or an internet conveyancer?

We would be happy to suggest some excellent Newcastle under Lyme conveyancing firms. You can also walk up the high street in Newcastle under Lyme. Approach a couple of law practices and request to see a conveyancing solicitor for a quote. Explain your time frames together with the reasons and ask for a commitment on your deadline. Appoint the lawyer that you are most comfortable with.

I own a freehold house in Newcastle under Lyme but still invoiced for rent, why is this and what is this?

It is rare for properties in Newcastle under Lyme and has limited impact for conveyancing in Newcastle under Lyme but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

I have 70 years unexpired on my lease and require a lease extension for my flat in Newcastle under Lyme. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/4/2019 the requirements read as follows :

85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

I have todaybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Newcastle under Lyme for a purchase of a leasehold flat 10 months ago. How can I check that the property is in my name in the name of the previous owner?

The quickest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Newcastle under Lyme conveyancing specialists.

I am tempted by the attractive purchase price for a two apartments in Newcastle under Lyme which have about 50 years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Newcastle under Lyme is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat 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 a residence 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 Newcastle under Lyme 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

Newcastle under Lyme Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

    Does the lease have onerous restrictions? It would be wise to find out if there is anything that is prohibited in the lease. By way of example it is fairly common in Newcastle under Lyme leases that pets are not permitted in in a block in Newcastle under Lyme. If you love the propertyin Newcastle under Lyme yet your cat is not allowed to move with you then you have a very difficult choice.

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