Can you explain why leasehold purchase conveyancing in Headley costs more?

Headley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I have Fifty Six years unexpired on my lease and require a lease extension for my flat in Headley. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?

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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/4/2024 the requirements read as follows :

I am buying my first flat in Headley with the aid of help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my solicitor about this extras as it could adversely affect my loan with the lender. Is this normal?.

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.

I own a leasehold house in Headley. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Headley who acted for me is not around. Any advice?

First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Headley conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Leasehold Conveyancing in Headley - A selection of Questions you should ask before Purchasing

How much is the yearly maintenance fee and ground rent? What is the length of the lease? Is anyone aware of any major works on the horizon that will likely increase the maintenance fees?

My husband and I have agreed a price on a Headley bungalow we inherited ten years ago in 2010. I have over 12 years conveyancing experience and, although retired, intend to carry out the conveyancing. The buyer's conveyancing practitioner has informed me that their mortgage company will not allow us to do our own conveyancing mandating that the funds to be released via a solicitor's bank account.

Lending instructions to solicitors from all CML members specify that If the vendor does not have legal representation the borrower's lawyers should check whether the mortgage company needs to be told so that a decision can be made as to whether or not they are willing to progress.