We were just about to exchange contracts for a leasehold flat in Blaina. We encountered a stumbling block. Our mortgage offer with Yorkshire Building Society runs out on 30/3/2026 but the sellers are putting forward a completion date of 1/4/2026. Is it possible to extend the mortgage offer?
The person best placed to address this issue is your solicitors who will hopefully calculate if they better off negotiating with the bank, seller’s lawyers, selling agents or possibly all parties based on what has happend in your transaction to date.
The Blaina conveyancing lawyers that just started acting on my house acquisition in Blaina have suddenly closed. They were on acting for me because I had to have a solicitor on the Co-operative conveyancing panel and my previous Blaina lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Me and my partner are purchasing a apartment in Blaina. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have a mortgage with Barclays for my property in Blaina. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval prior to letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel solicitor.
Principality have agreed my home loan in principle, my offer on a apartment in Blaina has been agreed to, now what?
The estate agent will want to be informed of your solicitor's details (ensure that the conveyancers are on the lender’s panel). Telephone Principality or your financial adviser and complete any relevant documentation. Principality will appoint a valuer who will get in touch with the selling agent or vendor to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Principality will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Blaina.
I used Wolstenholmes several years past for my conveyancing in Blaina. I now require my file but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Blaina of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Blaina. 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 Blaina
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I am employed by a reputable estate agent office in Blaina where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Blaina conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I bought a basement flat in Blaina, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Blaina with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease runs out on 21st October 2082
You have 56 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously 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.