We were just about to exchange contracts for a ground floor flat in Bilborough. We encountered a stumbling block. The loan offer with Lloyds TSB Bank runs out on 1/10/2025 but the sellers are putting forward a completion date of 3/10/2025. Is it possible to prolong the mortgage expiry date?
The best person to address this question is your conveyancer who should calculate whether they should be discussing with the bank, owner’s representatives, selling agents or possibly all parties based on the history of your conveyancing to date.
Is there a reason why leasehold purchase conveyancing in Bilborough is more expensive?
In summary, leasehold conveyancing in Bilborough and elsewhere usually necessitates extra work compared to freehold conveyancing. This includes checking the lease terms, corresponding with the landlord concerning the service of required notices, obtaining current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Should commercial conveyancing searches disclose planned roadworks that may impact a commercial site in Bilborough?
Many commercial conveyancing solicitors in Bilborough will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Bilborough. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bilborough.
For every commercial conveyancing transaction in Bilborough it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Bilborough commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Bilborough.
Are there restrictive covenants that are commonly picked up during conveyancing in Bilborough?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Bilborough. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to transfer to a new solicitor as I have to retain one who is on the Britannia conveyancing panel. I was using a family conveyancing solicitor in Bilborough five minutes from me but she is not approved by Britannia
We will our best to assist in finding you a conveyancing solicitor in Bilborough on the Britannia panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Bilborough. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Bilborough.
I only have Sixty One years remaining on my flat in Bilborough. I now want to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist may be useful to conduct investigations and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Bilborough.
I bought a 1 bedroom flat in Bilborough, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bilborough with a long lease are worth £170,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2104
You have 79 years remaining on your lease we estimate the price of your lease extension to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.