I am about to put an offer on a leasehold apartment in Bubwith. The property agents say that it is the norm for flats in Bubwith to have less than 75 years left on the lease. I am obtaining a mortgage with Tesco Bank. Will the property be mortgageable given that the lease has 69 years to go.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 21/11/2023 the requirements read as follows :

How does conveyancing in Bubwith differ for newly converted properties?

Most buyers of new build property in Bubwith come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Bubwith tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bubwith or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, chain free conveyancing. Bubwith is the location of the property. Can you shed any light on this issue?

Flying freeholds in Bubwith are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bubwith you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bubwith may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

Is it best to choose a Bubwith conveyancing practitioner based in the vicinity that I am purchasing? An old friend can conduct the legal work however they are based approximately 350kilometers away.

The primary upside of using a high street Bubwith conveyancing practice is that you can attend the office to sign paperwork, deliver your ID and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and the majority were content that must trump using an unfamiliar Bubwith conveyancing lawyer solely due to them being local.

I own a leasehold flat in Bubwith. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Bubwith who previously acted has now retired. Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Bubwith conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am the registered owner of a studio flat in Bubwith, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Bubwith with a long lease are worth £211,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2090

You have 67 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.