We were just about to exchange contracts for a leasehold flat in Lymm. We have hit a problem. Our loan offer with TSB runs out on 13/4/2026 but the owners are putting forward a completion date of 15/4/2026. Is it possible to prolong the loan offer?
The person best placed to address this issue is your solicitors who will hopefully assess if they corresponding with the bank, seller’s conveyancers, property agents or conceivably all parties taking into account the circumstances your house move as of today.
Why do I have to pay up front for conveyancing in Lymm?
If you are buying a property in Lymm your solicitor will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the purchase price then this will be asked for shortly before exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
Are there restrictive covenants that are commonly identified during conveyancing in Lymm?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Lymm. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Lymm differ for new build properties?
Most buyers of new build or newly converted property in Lymm come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Lymm usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lymm or who has acted in the same development.
I'm refinancing my primary property to a buy to let loan with Britannia and intend to use the remaining equity towards another property. The neighborhood we are interested in is Lymm. Will your solicitors be able to act for both sets of mortgage companies and link together the two deals?
Make use of our search tool on this page to be sure that the lawyers are on the relevant lender panels. Having checked that they are your lawyer should be able to connect the two conveyancing matters but you should have a chat with you solicitor and communicate your expectations and requirements.
Can you offer any advice when it comes to choosing a Lymm conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Lymm conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Lymm conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
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If they are not ALEP accredited then why not? How experienced is the practice with lease extension legislation?
Lymm Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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Most Lymm leasehold properties will be liable to pay a service bill for maintenance of the block levied by the management company. Where you buy the apartment you will have to meet this amount, usually periodically during the year. This can vary from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a large figure, say around £25-£75 but you need to enquire it because on occasion it could be prohibitively expensive. In the main the cost for major works tend not to be included within maintenance charges, although some managing agents in Lymm ask leaseholders to pay into a reserve fund and this is used to offset against major works. It would be wise to discover as much as possible concerning the company managing the block as they can either make life much easier or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to day to day issues like the tidiness of the common parts. Ask other people what they think of their service. In conclusion, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes.