I have 71 years left on my lease and need a lease extension for my flat in Wimborne. 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 obtaining 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 29/11/2022 the requirements read as follows :
It has been three months following my purchase conveyancing in Wimborne concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Wimborne. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Wimborne
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan.
I decided to have a survey done on a house in Wimborne in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend refuse to grant a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wimborne. Conveyancing will be smoother if you use a solicitor in Wimborne especially if they are familiar with such properties in Wimborne.
I have just started marketing my basement flat in Wimborne. Conveyancing has not commenced, but I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and maintenance charges will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Wimborne - Examples of Queries Prior to Purchasing
It would be wise to find out if the the lease contains any unreasonable restrictions in the lease. For instance it is reasonably common in Wimborne leases that pets are not permitted in certain buildings in Wimborne. If you love the propertyin Wimborne however your cat is not allowed to make the move with you then you have a very hard choice. On the whole the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Wimborne ask leaseholders to pay into a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance. How many of the leaseholders are in arrears for their service charge payments?