About to place an offer on a leasehold flat in Bebington. The property agents say that it is usual for flats in Bebington to have less than 75 years left on the lease. I am expecting a mortgage with Chelsea Building Society. Is this going to be acceptable if the lease has 69 years unexpired.
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 1/2/2025 the requirements read as follows :
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Bebington?
There are many registered licenced Conveyancers in Bebington and Solicitor practices in Bebington who can help with your conveyancing We would stress that both are regulated professionals specialising in the legal aspects of transferring property. The two can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
is it true that all Bebington conveyancing solicitors on the Nationwide conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nationwide conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
Completion of my remortgage has taken place for my property in Bebington. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am purchasing my first flat in Bebington with the aid of help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not reveal to my solicitor about the side-deal as it will affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Bebington is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bebington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bebington you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bebington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have been advised by numerous property agents in Bebington to choose a solicitor on your site. What’s the financial incentive for Estate Agents to offer your site over and above alternative conveyancing organisations?
We don’t make any financial incentive for directing people to this site. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Having checked my lease I have discovered that there are only 72 years left on my flat in Bebington. I now wish to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. In some cases an enquiry agent should be helpful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Bebington.
I purchased a split level flat in Bebington, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Bebington with a long lease are worth £265,000. The ground rent is £50 levied per year. The lease expires on 21st October 2100
You have 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.