I am about to put an offer on a leasehold flat in Wroxham. The property agents assure me that it is standard for flats in Wroxham to have less than 75 years unexpired on the lease. I am expecting a mortgage with Virgin. Will the property be mortgageable given that the lease has Seventy One years left.
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 10/3/2023 the requirements read as follows :
Me and my brother own a 4 bedroom Victorian property in Wroxham. Conveyancing lawyer acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wroxham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing lawyer who completed the work.
I am buying a new build house in Wroxham with a loan from The Mortgage Works. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not disclose to my lawyer about the side-deal as it would adversely affect my loan with the lender. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a property in Wroxham before appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders may not give a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wroxham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wroxham to see if the conveyancing will be more expensive.
I need to appoint a conveyancing solicitor for my conveyancing in Wroxham. I happened to chance upon a web site which appears to be the ideal offering If there is a chance to get all formalities completed via phone that would be ideal. Should I be wary? What should out be looking out for?
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 are seeking to find an affordable conveyancing solicitor in Wroxham to buy a house. I am aware of the dangers of getting ripped off and there are so many Wroxham conveyancing firms out there...who's the best?
A trustworthy personal recommendation from someone who has instructed a conveyancing lawyer previously is no doubt a preferable. You are bound to know someone who has used a conveyancing solicitor previously. Do make use of our comparison tool for Wroxham conveyancing quotes