About to place an offer on a leasehold apartment in Worcester Park. The selling agents tell me that it is standard for flats in Worcester Park to have less than 75 years remaining. I am expecting a mortgage with Chelsea Building Society. Will the property be mortgageable given that the lease has 72 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. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 24/11/2023 the requirements read as follows :
My relative suggested that where I am buying in Worcester Park I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Worcester Park conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Worcester Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Worcester Park Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Worcester Park Education with maps and statistics, Local Amenities and other useful data about Worcester Park.
About to purchase a new build apartment in Worcester Park. Conveyancing is daunting 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 conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Worcester Park
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
Due to the input of my in-laws I had a survey completed on a house in Worcester Park ahead of appointing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will not issue a loan on such a house.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Worcester Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Worcester Park to see if the conveyancing costs will increase in light of this.
I'm remortgaging my existing property to a BTL mortgage with Halifax and intend to use the remaining equity as a deposit on another property. The location we are talking about is Worcester Park. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our comparison tool on this site to be sure that the lawyers are on the relevant lender panels. Having checked that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and make clear your desired outcome and needs.
Is it best to instruct a Worcester Park conveyancing solicitor based in the area that I am purchasing? We have a good friend who can carry out the conveyancing however his firm is located 200miles drive away.
The primary upside of using a high street Worcester Park conveyancing practice is that you can attend the office to sign documents, hand in your identification documents and pester them where appropriate. Having local Worcester Park know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and on the whole were impressed that should outweigh using an unknown Worcester Park conveyancing lawyer just because they are Worcester Park based.