We were just about to exchange contracts for a garden flat in Bampton. We have hit a problem. The mortgage offer with Virgin Money expires on 13/10/2025 but the owners are suggesting a completion date of 15/10/2025. Can one prolong the loan offer?
The person best placed to address this issue is your solicitors who is in a position to assess if he or she is should be discussing with the bank, seller’s lawyers, selling agents or possibly all parties based on what has happend in your transaction to date.
The deeds to my home are lost. The lawyers who did the conveyancing in Bampton 10 years ago have long since closed. Will I be able to sell the house?
Assuming the title is registered the information relating to your ownership will be documented by HMLR under a Title Number. It is possible to execute a search at the Land Registry, identify your property and secure up to date copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Bampton I like with a park and station nearby, however it's only got 52 years on the lease. There is not much else in Bampton for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Is it best to go with a Bampton conveyancing practitioner in close proximity to the house I am purchasing? An old friend can perform the legal work however her office is a couple of hundredmiles away.
The benefit of a local Bampton conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and apply pressure on them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and they were happy that must trump using an unknown Bampton conveyancing solicitor solely due to them being local.
My wife and I purchased a leasehold house in Bampton. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Bampton who previously acted has long since retired. What should I do?
First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Bampton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground floor flat in Bampton, conveyancing was carried out in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bampton with an extended lease are worth £211,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2092
With 67 years left to run the likely cost is going to range between £10,500 and £12,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
My in 2008. He has got married, divorced and in recent months got married again. He now wants to the sell the Bampton property. I believe he will simply be requested to provide a copy of the marriage certificates to the lawyer however he is anxious it could hold up the conveyancing. Should he appoint a conveyancer to update the Land Registry information for the property?
You are not required to bring up to date the register as long as you have the evidence required to demonstrate how the change of name has come about.
Any purchaser’s lawyer should check the registered details and requisition evidence by way of proof of the name change e.g. marriage documentation.