We are about to sign contracts for a freehold house in Easton. We encountered a snag. Our loan offer with HSBC Bank runs out on 13/3/2026 but the owners are suggesting a completion date of 17/3/2026. Can one extend the mortgage expiry date?
The person best placed to address this issue is your conveyancer who should calculate if he or she is corresponding with the mortgage company, seller’s lawyers, property agents or possibly all parties given what has happend in your house move to date.
Why is leasehold purchase conveyancing in Easton is more expensive?
Easton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have been on the look out for a flat up to £195,000 and found one near me in Easton I like with open areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Easton for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
How easy is it to use the search tool to find a conveyancing practitioner in Easton on the panel for my mortgage?
First choose a lender such as Birmingham Midshires, Virgin Money or Alliance & Leicester then choose your preferred area for instance Easton. Conveyancing firms in Easton and beyond should be shown.
What are your top tips when it comes to finding a Easton conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Easton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Easton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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If they are not ALEP accredited then why not? What are the legal fees for lease extension conveyancing?
I acquired a split level flat in Easton, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Easton with a long lease are worth £206,000. The ground rent is £45 yearly. The lease finishes on 21st October 2092
With just 66 years left to run we estimate the price of your lease extension to be between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
I am searching for an affordable conveyancing lawyer in Easton to buy a apartment. I I am concerned about appointing the wrong one but with many Easton conveyancing practices to choose from...how do I know which one is best to appoint?
If you’ve never instructed a lawyer in the past, a trustworthy recommendation from family or friends is a preferable starting point and is often a good barometer of quality. As an alternative option, view the Law Society’s regional list of lawyers in Easton or make the most of our search facility to find a conveyancing solicitor in Easton.