We are a couple about to exchange contracts for a semi detached house in Rowen. We encountered a problem. Our loan offer with Norwich and Peterborough Building Society runs out on 17/9/2019 but the vendors are insisting on a completion date of 19/9/2019. Can one extend the mortgage offer?
The best person to address this question is your solicitors who should determine whether they should be discussing with the mortgage company, seller’s lawyers, property agents or indeed all three given what has happend in your transaction as of today.
What can a local search tell me about the house I am buying in Rowen?
Rowen conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search is essential in every Rowen conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications applicable to the property (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 thirteen topic areas.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Rowen I like with a park and transport links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Rowen in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
All being well we will complete the sale of our £125,000 apartment in Rowen in six days. The management company has quoted £336 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Rowen?
Rowen conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by freeholders :
Addressing pre-contract questions
Where consent is required before sale in Rowen
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a leasehold flat in Rowen, conveyancing was carried out December 2008. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Rowen with a long lease are worth £216,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2089
With just 70 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
Are all Rowen legal practices on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local lender branch in Rowen. the probability is that they will be in a position to list some reputable conveyancing solicitors in Rowen