I have given 8 weeks notice to my current landlord and have to vacate my rented property in Waterhouses by the end of next month. Conveyancing for my house purchase has just started. Can I complete in 4 weeks as I wish to avoid having to find short term accommodation?
The normal practice is not to give notice on a rental until your lawyer suggests that you should. Assuming that you have not previously done so, contact to your solicitor and request that they apply pressure on the owners lawyers, try to an acceptable time-line that everyone will aim towards
My husband and I are buying a 1 bedroom apartment in Waterhouses with a loan from lend.We have a Waterhouses conveyancing lawyer but lend advised that her practice is not on their approved list of member firms. It seems we have little choice but to instruct a lend panel solicitor or keep our preferred solicitor and pay for one of their panel ones to represent them.We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you contains terms and conditions, one of which will be that lawyers needs to be on the solicitor panel.Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Waterhouses I like with open areas and transport links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Waterhouses for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.