We are about to sign contracts for a garden flat in Bewdley. We have hit a stumbling block. Our mortgage offer with Santander expires on 7/4/2026 but the vendors are putting forward a completion date of 9/4/2026. Is it possible to prolong the mortgage offer?
The person best placed to address this concern is your conveyancer who will determine if he or she is better off negotiating with the mortgage broker, owner’s conveyancers, estate agents or possibly all parties given the circumstances your conveyancing as of today.
I purchased a freehold property in Bewdley but still invoiced for rent, why is this and what is this?
It is rare for properties in Bewdley and has limited impact for conveyancing in Bewdley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My wife and I have a renovated Georgian property in Bewdley. Conveyancing lawyer represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bewdley and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing lawyer who conducted the purchase.
Do I need to be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Bewdley conveyancing company?
As is the case with many professional services, often suggestions from family and friends can be extremely useful or valuable. But there are many people with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all suggest conveyancers to select. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are free to appoint your own lawyer. Don't forget that many mortgage providers have an approved list of law firms you are obliged to use for the mortgage aspect of your transaction.
Can you offer any advice when it comes to appointing a Bewdley conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Bewdley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Bewdley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
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Can they put you in touch with clients in Bewdley who can give a testimonial? What volume of lease extensions have they completed in Bewdley in the last year?
I purchased a studio flat in Bewdley, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bewdley with over 90 years remaining are worth £211,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2094
With 68 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
There are a lot of properties in Bewdley on unadopted roads. My wife and I are acquiring one such property. What would be the advantages and disadvantages of buying a house on a privately owned road?
Bewdley conveyancing practices are used to transacting homeson private. The property lawyer will review the Land Registry data to find any rights or liabilities. In many cases there is a management company (wholly owned by residents) that owners make annual payments to maintain the road. If one exists, the road will likely be maintained and look better than council adopted.