We were just about to exchange contracts for a leasehold flat in Martlesham. We have hit a snag. Our loan offer with Bank of Scotland expires on 4/4/2019 but the vendors are suggesting a completion date of 8/4/2019. Is it possible to extend the mortgage offer?
The best person to deal with your issue is your lawyer who will hopefully assess if they should be discussing with the mortgage broker, owner’s lawyers, selling agents or conceivably all parties based on what has happend in your conveyancing to date.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a residence in Martlesham? or I am told that there is a law dating back centuries that means some homeowners living in a parish church boundary may be liable to pay for repairs towards the chancel in proximity to the church. Is this relevant for conveyancing in Martlesham?
Unless a previous purchase of the house completed post 12 October 2013 you may take it that conveyancing practitioners handling conveyancing in Martlesham to remain encouraging a chancel search and or chancel repair liability policy.
Have purchased a a semi-detached house in Martlesham , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Martlesham conveyancing solicitor works at snail pace, so I want to be sure that my name is recorded.
As far as conveyancing in Martlesham registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any other parties. Currently in the region of three quarters of submission are fully addressed within 12 days but occasionally there can be protracted hold-ups. Historically registration is effected once the purchaser is living at the property thus an expedited registration is not usually primary concern but if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build flat in Martlesham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Martlesham
Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Martlesham. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Martlesham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Martlesham in which case you should be shopping around for a Martlesham conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
Leasehold Conveyancing in Martlesham - A selection of Questions you should ask before Purchasing
How many years remain on the lease? Most Martlesham leasehold flats will incur a service bill for maintenance of the building levied on behalf of the management company. Where you acquire the flat you will have to pay this charge, usually quarterly throughout the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge for you to pay yearly, normally this is not a significant amount, say around £25-£75 but you need to check it because sometimes it can be many hundreds of pounds. Be sure to discover if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in certain buildings in Martlesham. If you love the propertyin Martlesham yet your cat can’t move with you then you will be presented with a difficult choice.