We were just about to exchange contracts for a semi detached house in Cheshunt. We have hit a snag. The loan offer with The Royal Bank of Scotland runs out on 10/3/2026 but the sellers are putting forward a completion date of 12/3/2026. Is it possible to prolong the loan expiry date?
The person best placed to address this issue is your lawyer who will hopefully assess whether they corresponding with the lender, owner’s lawyers, estate agents or conceivably all parties given the circumstances your house move to date.
My wife and I purchased a semi-detached Georgian house in Cheshunt. Conveyancing practitioner acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching property. Is it worth asking Halifax to clarify?
You should 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 Cheshunt and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Cheshunt is the location of the property. What do you suggest?
Flying freeholds in Cheshunt are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cheshunt you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cheshunt may determine 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.
In what way can the Landlord & Tenant Act 1954 impact my business property in Cheshunt and how can your lawyers assist?
The 1954 Act provides a safeguard to commercial lessees, granting the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse 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 Cheshunt
We have an offer in principle from Lloyds TSB Bank who indicated that they will lend up to £300k. When do we need to instruct a practitioner for conveyancing? Cheshunt is where we are purchasing.
You can appoint a conveyancer now and ask them to create a file on your behalf. This will facilitate: 1) the estate agent to send out the Sales Memo to all parties 2) the seller’s lawyer to send out the draft agreement. That being said, do not instruct your solicitor to start searches until you receive your valuation report via Lloyds TSB Bank and you are happy to move forward.