I have just over seventy years remaining on my lease and require a lease extension for my apartment in Rumney. Conveyancing solicitors on the Chelsea Building Society 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. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 3/10/2024 the requirements read as follows :
Does a directory service exist listing Co-operative panel conveyancers in Rumney on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. If you are seeking to appoint a Rumney conveyancing practitioner on the Co-operative please use our tool.
Completion of my remortgage has taken place for my property in Rumney. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My offer on a house in Rumney has been accepted, but there is a chain. The owners have put an offer on a flat, but it’s not yet agreed to, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Rumney. What should be my next step? At what stage should I apply for the mortgage with UBS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, Rumney conveyancing search charges, etc). The first course of action is to check that your property lawyer is on the UBS approved list. As to the subsequent stages this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a buoyant market many purchasers would apply for a home loan with UBS and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Rumney.
I'm remortgaging my existing property to a BTL loan with TSB and intend to use the remaining equity towards further house. The location we are talking about is Rumney. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Do use our comparison tool on this site to check that the lawyers are on the appropriate lender panels. Having checked that they are your conveyancer will be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and specify your desired outcome and requirements.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Rumney. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Rumney ?
The majority of houses in Rumney are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Rumney so you should seriously consider shopping around for a Rumney conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.
I am the registered owner of a garden flat in Rumney, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Rumney with an extended lease are worth £211,000. The ground rent is £45 per annum. The lease finishes on 21st October 2091
You have 67 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
Do I cancel my mortgage payments with Leeds Building Society once a completion date for my sale in Rumney has been agreed?
You are best advised to continue meeting any mortgage payments to Leeds Building Society until the mortgage is discharged on completion as part of your Rumney conveyancing.