I am acquiring a newly built apartment in Cullompton and my conveyancer is informing me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am about to put a bid on a leasehold flat in Cullompton. The selling agents assure me that it is normal for flats in Cullompton to have less than 75 years unexpired on the lease. I am expecting a mortgage with Virgin. Will the property be mortgageable given that the lease has 69 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 31/7/2026 the requirements read as follows :
The deeds to my house can not be found. The solicitors who conducted the conveyancing in Cullompton 4 years ago have long since closed. What do I do?
These day there are duplicates made of almost everything, and your conveyancer should know precisely where to find all the suitable documentation so you may buy or dispose of your property without a hitch. If duplicates can’t be found, your lawyer may be able to arrange cover in the form of insurance or indemnities against future claims on the premises.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Cullompton is the location of the property. Can you offer any advice?
Flying freeholds in Cullompton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cullompton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cullompton may decide 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 property.
What makes your site different to other internet conveyancing brokers for conveyancing in Cullompton?
At this site get an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Cullompton. As opposed to estate agents and many comparison sites we are not in the business of charging firms a commission if you instruct them for your home move in Cullompton
I work for a reputable estate agent office in Cullompton where we see a few leasehold sales put at risk due to short leases. I have received inconsistent advice from local Cullompton conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a garden flat in Cullompton, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Cullompton with over 90 years remaining are worth £227,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2098
You have 72 years left to run the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.