We are about to exchange contracts for a freehold house in Beckton. We encountered a stumbling block. Our loan offer with Yorkshire Building Society runs out on 5/2/2025 but the owners are putting forward a completion date of 7/2/2025. Can one extend the loan expiry date?
The best person to deal with your concern is your conveyancer who should assess if he or she is better off negotiating with the lender, seller’s conveyancers, estate agents or indeed all three taking into account the circumstances your house move as of today.
How does conveyancing in Beckton differ for new build properties?
Most buyers of new build premises in Beckton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Beckton typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Beckton or who has acted in the same development.
I am looking for a flat up to £305k and found one close by in Beckton I like with open areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Beckton suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will likely be problematic. Reduce the price 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 could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Beckton and how can you help?
The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Beckton is one of the numerous locations in which the firms we work with are based
In my capacity as executor for the will of my grandfather I am disposing of a house in Newport but reside in Beckton. My solicitor (who is 300 miles from merequires that I sign a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Beckton who can witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are based in Beckton
Expecting to exchange soon on a studio apartment in Beckton. Conveyancing lawyers 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 Beckton should include some of the following:
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Do you need to have carpet in the flat or are you allowed wood flooring? Details of the parties to the lease, e.g. these could be the tennant, superior lessor, freeholder What you can do if a neighbour is in violation of a provision in their lease? Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease contain a right of way over a path or hallways? An explanation as to the provision as set out in the lease to pay service charges - in respect of the block, and the more general rights a lessee has
I am the registered owner of a second floor flat in Beckton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Beckton conveyancing firm who can help.
An example of a Lease Extension decision for a Beckton property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired residue of the current lease was 69.77 years.