We were just about to sign contracts for a property in Clerkenwell. We have hit a stumbling block. The mortgage offer with TSB runs out on 21/6/2024 but the vendors are insisting on a completion date of 25/6/2024. Can one extend the loan offer?
The best person to deal with your concern is your solicitors who will determine whether he or she is should be discussing with the lender, owner’s solicitors, property agents or possibly all parties taking into account the circumstances your transaction to date.
Various online forums that I have visited warn that are the primary cause of stalling in Clerkenwell conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Clerkenwell.
I have todaybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Clerkenwell for a purchase of a leasehold flat 9 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Clerkenwell conveyancing specialists.
About to purchase a new build apartment in Clerkenwell. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Clerkenwell
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared.
Due to the guidance of my in-laws I had a survey completed on a house in Clerkenwell before retaining lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some lenders may refuse to give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Clerkenwell. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Clerkenwell to see if the conveyancing costs will increase in light of this.
I am on look out for some leasehold conveyancing in Clerkenwell. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Clerkenwell - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a ground floor flat in Clerkenwell. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Clerkenwell residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term as at the valuation date was 66.8 years.