We were just about to sign contracts for a property in Longton. We have hit a stumbling block. The mortgage offer with Lloyds TSB Bank expires on 27/7/2026 but the owners are putting forward a completion date of 29/7/2026. Can one prolong the loan offer?
The person best placed to deal with your question is your solicitors who will assess whether they should be discussing with the mortgage company, vendor’s representatives, property agents or conceivably all parties given the history of your transaction as of today.
Do I need to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Longton so that I can pop in to their offices if necessary.
Whereas this was necessary 12 years ago, most banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to provide ID documents and there are still distinct advantages to choosing a locally based practitioner, in your case a conveyancing solicitor in Longton.
I acquired my apartment on 14 March and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Longton said it would be dealt with in a couple of weeks. Are titles in Longton uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Longton registration formalities. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any 3rd persons or bodies. At present in the region of 80% of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Historically registration is effected once the purchaser has moved in to the premises thus post completion formalities is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
Are there any apps to assist me to search for a Longton solicitor on the Coventry Building Society conveyancing panel? I have a car and am prepared to travel upto 25kilometers to meet the solicitor.
You can use the tool on this website. Please choose the bank and your location and you will see a number of Longton conveyancing lawyers locally. We have listed some Longton conveyancing firms at the bottom of this page and you can ring them to verify whether they are on the Coventry Building Society panel
I own a leasehold house in Longton. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Longton who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to instruct a Longton conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a 1st floor flat in Longton, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Longton with an extended lease are worth £221,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2096
With 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
I own a leasehold flat in Longton. Conveyancing was completed in last year. I have read on numerous consumer forums that I mustn’t allow the lease length fall too low. Why is that a problem?
Longton leasehold properties are for a set term - normally 99 years when they started. However a significant flats in Longton were built or converted in the 60’s and so such leases now have under eighty years remaining. This may seem like a long time however Banks, Building Societies and other mortgage institutions on the whole require leases to have at least seventy five years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching 75 years. To enhance your property value you should be considering whether to extend your lease long before you come to sell it. You should note that there are significant benefits to taking action before the lease hits eighty years as when the lease is less than eighty years the premium you have to pay to extend starts to increase.