We were just about to exchange contracts for a leasehold flat in Beeston. We have hit a snag. The loan offer with expires on but the sellers are putting forward a completion date of . Can one prolong the loan expiry date?
The person best placed to deal with your question is your lawyer who will calculate if he or she is corresponding with the mortgage broker, vendor’s representatives, property agents or possibly all three given the circumstances your conveyancing to date.
I have been told that property searches are the primary cause of obstruction in Beeston house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Beeston.
Me and my brother purchased a semi-detached Victorian house in Beeston. Conveyancing lawyer acted for me and . I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Beeston 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 question the situation with the conveyancing practitioner who conducted the purchase.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Beeston I like with open areas and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Beeston for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend solicitors offering no-sale-no charges for non-domestic conveyancing in Beeston for under £1,200?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Beeston, including the disposal and purchase of businesses as well as simply property. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right lawyer. As for the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your details or phone us so that we can supply you with a detailed commercial conveyancing quote.