I have 7378 less than 75 years remaining on my lease and need a lease extension for my apartment in Ripon. 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 getting 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 3/12/2018 the requirements read as follows :
For new build properties, the following lease terms are not acceptable:
- The unexpired lease term on a new build flat is less than 125 years
- The unexpired lease term on a new build house is less than 250 years
If the lease cannot be amended to comply with the above, the case cannot proceed. Please advise us immediately where the case cannot proceed.
Contact point as detailed in 1.11b.
My partner and I are close to exchanging contracts on the sale of our property in Ripon and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Ripon conveyancer would know this is not the case. It does beg the question why the buyers instructed a nationwide conveyancing practice as opposed to a conveyancing solicitor in Ripon. Having lived in Ripon for six years we know that this is a non issue. Should we contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
How does conveyancing in Ripon differ for new build properties?
Most buyers of new build premises in Ripon approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Ripon typically 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 conveyancers 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 used to new build conveyancing in Ripon or who has acted in the same development.
I decided to have a survey completed on a house in Ripon ahead of appointing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some mortgage companies tend not issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ripon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ripon to see if the conveyancing will be more expensive.
I was pointed in your direction by numerous estate agents in Ripon to find a conveyancer on your site. What’s the financial advantage for Estate Agents to promote your lawyers over alternative conveyancing organisations?
We don’t give any financial incentive for directing people our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.