I was told today by my IFA that my Castle Eden solicitor is not on the mortgage company Solicitor panel. How can I be certain that this is indeed the case?
Your first step should be to call your Castle Eden lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may be able to suggest a Castle Eden conveyancing firm that is on the approved list of lawyers for your bank.
Why is leasehold purchase conveyancing in Castle Eden is more expensive?
In summary, leasehold conveyancing in Castle Eden and elsewhere usually warrants extra due diligence compared to freehold transactions. This includes analysing the lease terms, communicating with the landlord about the service of applicable notices, obtaining up-to-date service charge and management information, securing the landlord’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.
About to place an offer on a leasehold flat in Castle Eden. The selling agents assure me that it is normal for flats in Castle Eden to have less than 75 years unexpired on the lease. I am getting a loan with Tesco Bank. Is this going to be acceptable if the lease has 72 years to go.
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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 1/11/2025 the requirements read as follows :
Will commercial conveyancing searches disclose impending roadworks that could affect a commercial land in Castle Eden?
Its becoming the norm that commercial conveyancing solicitors in Castle Eden will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Castle Eden. The search result sets out 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 Castle Eden.
For each commercial conveyancing transaction in Castle Eden it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Castle Eden commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Castle Eden.
The estate agent has sent us the confirmation of our purchase of a new build flat in Castle Eden. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Castle Eden
-
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared.
I am looking for a flat up to £305k and identified one close by in Castle Eden I like with open areas and transport links in the vicinity, however it's only got 52 years on the lease. There is not much else in Castle Eden for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.