I am about to put a bid on a leasehold property in Cheam. The estate agents advise that it is the norm for flats in Cheam to have less than 75 years unexpired on the lease. I am getting a mortgage with Tesco Bank. Is this going to be acceptable if the lease has 72 years left.
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 23/4/2025 the requirements read as follows :
Me and my partner are purchasing a flat in Cheam. It might be a silly question but how we can trust a solicitor? At some point we have to put funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cheam
There are two types of lawyers who can execute conveyancing in Cheam namely licenced conveyancers or solicitors. Both professionals administer the legal services that you need to complete the disposal or purchase of property. Both are required to execute Cheam conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly conducted and that all necessary procedures should be suitably followed.
My offer was accepted on a house in Cheam on 7/3/2025, valuation was booked 4 days later, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it necessary to pay for insurance to cover chancel repairs when purchasing a property in Cheam?
Unless a prior purchase of the property took place post 12 October 2013 you can expect solicitors handling conveyancing in Cheam to remain encouraging a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Cheam is the location of the property. Is there any guidance you can give?
Flying freeholds in Cheam are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cheam you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cheam may ascertain 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 premises.
Am I best advised to instruct a Cheam conveyancing lawyer based in the area that I am buying? I have an old university friend who can conduct the conveyancing however her office is a couple of hundredkilometers away.
The benefit of a local Cheam conveyancing firm is that you can attend the office to sign paperwork, deliver your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were content that should trump using an unknown Cheam conveyancing solicitor just because they are Cheam based.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Cheam. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Cheam ?
Most houses in Cheam are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Cheam so you should seriously consider looking for a Cheam conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Cheam conveyancing firm to assist?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the amount due.
An example of a Lease Extension case for a Cheam residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The remaining number of years on the lease was 60.43 years.