We are about to exchange contracts for a leasehold flat in Broadway. We have hit a stumbling block. The mortgage offer with Alliance & Leicester expires on 11/8/2025 but the vendors are suggesting a completion date of 13/8/2025. Can one prolong the loan expiry date?
The best person to address this question is your solicitors who will hopefully determine if they should be discussing with the mortgage broker, seller’s representatives, selling agents or conceivably all parties based on the circumstances your house move as of today.
I used Wolstenholmes several years past for my conveyancing in Broadway. I now require my file however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Broadway of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Broadway differ for newly converted properties?
Most buyers of new build property in Broadway approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Broadway typically buy the site, 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 conveyancers 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 accustomed to new build conveyancing in Broadway or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Broadway I like with open areas and station nearby, however it only has 49 years on the lease. I can't really find anything else in Broadway for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
How difficult is it to transfer to a new firm as I have to retain one who is on the Platform Home Loans Ltd conveyancing panel. I hired a local conveyancing solicitor in Broadway five minutes from me but the firm is not approved by Platform Home Loans Ltd
It would be our pleasure to assist you find a conveyancing solicitor in Broadway on the Platform Home Loans Ltd panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Broadway. In making use of the find a conveyancing solicitor tool on this site, you can compare charges for conveyancing solicitors in Broadway and beyond.
Completion is due on our sale of a £425,000 garden flat in Broadway in 8 days. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Broadway?
Broadway conveyancing on leasehold apartments often involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.
Broadway Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? Does the lease contain onerous restrictions? If a Broadway lease has no more than eighty years it will affect the value of the apartment. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Broadwaylease extensions you will need to own the premises for two years in order to be eligible to extend the lease.