We were just about to exchange contracts for a leasehold flat in Ponteland. We have hit a snag. The mortgage offer with Bank of Ireland runs out on 12/4/2019 but the sellers are putting forward a completion date of 16/4/2019. Is it possible to prolong the mortgage offer?

The best person to address this question is your solicitors who will assess if they corresponding with the bank, vendor’s solicitors, selling agents or possibly all three based on what has gone on in your conveyancing as of today.

What will a local search tell me regarding the house my wife and I purchasing in Ponteland?

Ponteland conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search is essential in every Ponteland conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.

The deeds to our property can not be found. The conveyancers who did the conveyancing in Ponteland 5 years ago are no longer around. What are my options?

Gone are the days when you need to have the physical official documentation to evidence that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.

I am looking for a leasehold apartment up to £305k and found one near me in Ponteland I like with amenity areas and station nearby, however it only has 49 years on the lease. I can't really find anything else in Ponteland for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.

I am a negotiator for a reputable estate agent office in Ponteland where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Ponteland conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I inherited a 1st floor flat in Ponteland, conveyancing having been completed June 2004. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Ponteland with a long lease are worth £197,000. The ground rent is £55 yearly. The lease expires on 21st October 2074

You have 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.