Are the Newton Longville conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?
Newton Longville conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
I need some quick conveyancing in Newton Longville as I am faced with pressure to exchange contracts within 4 weeks. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a cash purchaser you have the choice not to do searches although no solicitor would advise that you don't. Drawing on our experience of conveyancing in Newton Longville the following are instances of issues that can arise and therefore affect market value: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...
Due to the guidance of my in-laws I had a survey completed on a house in Newton Longville ahead of retaining solicitors. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Newton Longville. Conveyancing will be smoother if you use a solicitor in Newton Longville especially if they are acquainted with such properties in Newton Longville.
I am looking at a two apartments in Newton Longville both have about fifty years unexpired on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Newton Longville is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. 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 premises 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 Newton Longville 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 own a leasehold flat in Newton Longville, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar flats in Newton Longville with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2082
With just 60 years left to run the likely cost is going to be between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should 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.
Why do I have to supply my property lawyer with numerous items of identification ahead of starting selling or purchasing a property in Newton Longville?
Newton Longville conveyancers are duty bound by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to record that the have verified the identity of their clients. It is also sometimes a requirement of your bank where you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and DOB.