About to place an offer on a leasehold apartment in Roehampton. The property agents assure me that it is normal for flats in Roehampton to have less than 75 years left on the lease. I am taking out a loan with Virgin. Is this going to be a problem if 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. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/9/2020 the requirements read as follows :
I am purchasing a house and the solicitor has identified Chancel Repair to which the house may be liable given it’s proximity to the area of such a church. He has mentioned insurance. Is this strictly required for conveyancing in Roehampton
Unless a prior acquisition of the property completed after 12 October 2013 you can take it that solicitors handling conveyancing in Roehampton to remain recommending a chancel search and or insurance against a claim.
I'm buying a new build house in Roehampton benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of extras instead. The estate agent advised me not to tell my conveyancer about this deal as it would adversely affect my mortgage with Barnsley Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am a sole trader wishing to take an assignment of a lease of a shop on the high street. Can you recommend lawyers offering competitive costs for non-domestic conveyancing in Roehampton for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Roehampton, including the disposal and purchase of businesses as well as simply premises. If you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can find you the right solicitor. Regarding the fees this will depend on the structure and terms of the deal. Please provide us with your contact information or email us so that we may furnish you with a detailed commercial conveyancing calculation.
I need to appoint a conveyancing solicitor for purchase conveyancing in Roehampton. I have discover a web site which looks to be the ideal offering If there is a chance to get all the legals completed via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a couple of flats in Roehampton both have in the region of 50 years left on the leases. Do I need to be concerned?
A lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field.
My wife and I have hit a brick wall in trying to purchase the freehold in Roehampton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Freehold Enfranchisement decision for a Roehampton flat is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired term was 66.25 years.