I am about to put a bid on a leasehold flat in Hurst Green. The selling agents say that it is standard for flats in Hurst Green to have less than 75 years remaining. I am expecting a loan with Platform. Will the property be mortgageable given that the lease has 69 years remaining.
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. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/4/2024 the requirements read as follows :
We are buying a flat in Hurst Green. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our monies?
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.
A friend advised me that in purchasing a property in Hurst Green there may be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Hurst Green which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Hurst Green should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Bank of Ireland, do Hurst Green solicitors face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
The deeds to my property can not be found. The solicitors who did the conveyancing in Hurst Green 10 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your lawyer should be aware exactly where to look for all the relevant documentation so you may purchase or sell your house without a hitch. If copies can’t be found, your conveyancer may be able to arrange cover in the form of insurance or indemnities against future claims on the property.
I was advised by a number of estate agents in Hurst Green to choose a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to recommend your site over and above a competitor’s?
We don’t offer any referral fee for sending work our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I have recently realised that I have Fifty years unexpired on my lease in Hurst Green. I now want to get lease extension but my landlord is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the lessor. On the whole an enquiry agent would be helpful to carry out a search and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court covering Hurst Green.
I own a 1st floor flat in Hurst Green, conveyancing was carried out August 2009. How much will my lease extension cost? Equivalent properties in Hurst Green with an extended lease are worth £255,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2097
You have 73 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
We have appointed a Hurst Green conveyancing solicitor for our home move (first time buyers) and have picked up in the Ts and Cs that they are not regulated by the FCA. Need I be worried or is that usually the case with solicitor?
We can't see why they should be. Most property lawyer don't lend money. They will be regulated by the SRA, who dictate specific stipulations covering monies sitting on client account.