About to place an offer on a leasehold property in Elmers End. The estate agents advise that it is usual for flats in Elmers End to have less than 75 years left on the lease. I am taking out a loan with Virgin. Will the property be mortgageable given that the lease has 72 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 5/7/2025 the requirements read as follows :
I have todaydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Elmers End for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest method to check if the premises 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 Elmers End conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Elmers End I like with amenity areas and transport links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Elmers End in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
My husband and I are novice buyers - had an offer accepted, but the estate agent informed us that the vendor will only move forward if we use their recommended solicitors as they are insisting on a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Elmers End
It is improbable the owners are driving this. Should the vendor require ‘a quick sale', alienating a genuine buyer is likely to cause more damage than good. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to use your own,trusted Elmers End conveyancing solicitors - not the ones that will earn their estate agent a referral fee or achieve conveyancing targets pre-set by head office.
If all goes to plan we aim to complete the sale of our £400,000 maisonette in Elmers End in seven days. The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Elmers End?
Elmers End conveyancing on leasehold maisonettes more often than not involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They are entitled to levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Elmers End conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a Elmers End conveyancing firm who can help.
An example of a Lease Extension case for a Elmers End flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The remaining number of years on the lease was 26.38 years.
We have had DIP from The Royal Bank of Scotland who have advised we could borrow up to £218k. When do I need to instruct a practitioner for conveyancing? Elmers End is where we plan to move to.
You can appoint a lawyer now so that the solicitor can open the ledger so they can conduct their ID checks etc. Once you wish them to start work they will seek a payment on account usually approximately £225. That would normally be after you have the loan offer from the lender and survey results, nevertheless should you want to speed matters you can start quicker even though you may be risking some expense.