I am nearing an exchange on a flat in Caistor and my mum and dad have sent the 10% deposit to my lawyer. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The lawyer is obliged to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I have 7378 less than 75 years left on my lease and require a lease extension for my flat in Caistor. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/8/2025 the requirements read as follows :
My friend suggested that where I am buying in Caistor I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Caistor conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Caistor around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Caistor Education with plans and statistics, Local Amenities and other useful data concerning Caistor.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Caistor is the location of the property. Can you offer any advice?
Flying freeholds in Caistor are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Caistor you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caistor may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My step-father has urged me to use his conveyancers in Caistor. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to seek referrals from friends or family who have used the solicitor that you are considering.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Caistor. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Caistor ?
Most houses in Caistor are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Caistor in which case you should be looking for a Caistor conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I bought a split level flat in Caistor, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Caistor with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2097
You have 72 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.
The figure 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 concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.