I am about to put a bid on a leasehold apartment in Carlisle. The property agents advise that it is normal for flats in Carlisle to have less than 75 years unexpired on the lease. I am obtaining a loan with Chelsea Building Society. Is this going to be a problem if the lease has 70 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing 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 25/11/2022 the requirements read as follows :
How does conveyancing in Carlisle differ for new build properties?
Most buyers of new build residence in Carlisle approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Carlisle usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Carlisle or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. Carlisle is where the house is located. Can you shed any light on this issue?
Flying freeholds in Carlisle are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Carlisle you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Carlisle 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 property.
How does the Landlord & Tenant Act 1954 affect my business offices in Carlisle and how can your lawyers assist?
The 1954 Act provides a safeguard to commercial tenants, granting the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Carlisle
I need to instruct a conveyancing practitioner in Carlisle for my house move. Is there any facility to check a solicitor's record with the profession’s regulator?
Members of the public can find published Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.