We see that you have a search directory identifying law firms on the Co-operative conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Portland?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Portland.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Portland I like with open areas and station in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Portland suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I need to instruct a conveyancing solicitor for sale conveyancing in Portland. I have chance upon a site which looks to be the ideal solution If it is possible to get all this stuff completed via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Looking forward to exchange soon on a leasehold property in Portland. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Portland should include some of the following:
Whether the lease restricts you from renting out the property, or having a home office for business Are you allowed to have a pet in the flat? What options are open to you if a neighbour is in violation of a provision in their lease? Rent payments - what is payable and when you need to pay, and also know whether this is subject to change An explanation as to the provision as set out in the lease to to contribute towards maintenance costs - in respect of the block, and the wider rights a lessee has
Portland Leasehold Conveyancing - Sample of Questions you should consider before buying
What prohibitions exist in the Portland Lease? Best to be warned whether fixing the lift or some other significant cost is pending to be shared by the leaseholders and may well materially impact the level of the maintenance fees or result in a specific invoice. Please note if it is no more than eighty years it will affect the marketability of the property. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will need to own the property for 24 months in order to be legally able to extend the lease.
Why do I have to provide my property lawyer with numerous items of ID before they can proceed with selling or purchasing a property in Portland?
Portland property lawyers are duty bound by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering legislation to certify that the have checked the identity of their clients. It will also be a condition of your bank where you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and date of birth.