We are a couple about to sign contracts for a leasehold flat in Ovingham. We encountered a stumbling block. The loan offer with Birmingham Midshires expires on 1/7/2025 but the sellers are insisting on a completion date of 3/7/2025. Is it possible to extend the mortgage expiry date?
The person best placed to deal with your issue is your lawyer who will calculate whether they better off negotiating with the mortgage company, owner’s conveyancers, selling agents or possibly all three taking into account the history of your house move as of today.
This question may be naive but I am wet behind the ears as a 1st time buyer of a garden flat in Ovingham. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Ovingham?
On the day of completion you do not need to go to the conveyancers office in Ovingham. Conveyancing lawyers for you will transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be called to receive the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
We previously selected conveyancing lawyers with offices in Ovingham on the HSBC solicitor approved list. They have just billed me a further charge for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. The charge is not set by HSBC but by your Ovingham property lawyer. Plenty of firms on the HSBC panel will charge an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Ovingham off the council. I have a mortgage agreed with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
About to purchase a new build apartment in Ovingham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ovingham
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I opted to have a survey carried out on a property in Ovingham before appointing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will not give a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ovingham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ovingham to see if the conveyancing will be more expensive.
My brother has suggested that I appoint his conveyancing solicitors in Ovingham. Should I use them?
No doubt the ideal way to choose a conveyancing solicitor is to seek referrals from friends or family who have actually experience in using the solicitor that you are considering.
There are only Fifty years remaining on my flat in Ovingham. I need to extend my lease but my landlord is absent. What are my options?
On the basis that you qualify, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent may be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Ovingham.
I acquired a leasehold flat in Ovingham, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Ovingham with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2085
With only 60 years unexpired we estimate the premium for your lease extension to be between £20,000 and £23,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.