I am getting a mortgage with Santander. I intend to instruct a Licensed Conveyancer in Shotton. Does the Santander Conveyancing panel allow for conveyancers regulated by the CLC?

The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

About to place an offer on a leasehold apartment in Shotton. The selling agents tell me that it is standard for flats in Shotton to have less than 75 years remaining. I am expecting a mortgage with Accord Mortgages. Will the property be mortgageable given that the lease has 72 years remaining.

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. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/5/2022 the requirements read as follows :

I am buying a new build flat in Shotton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Shotton

If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.

I have been on the look out for a ground for flat up to £195,000 and identified one close by in Shotton I like with open areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Shotton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.

When it comes to leasehold conveyancing in Shotton what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Shotton. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain elements of the property

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I own a studio flat in Shotton, conveyancing formalities finalised in 2006. Can you work out an approximate cost of a lease extension? Similar flats in Shotton with a long lease are worth £222,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2092

With only 70 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be 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 placing reliance on this information without first getting professional advice.