We are a couple about to exchange contracts for a semi detached house in Broseley. We encountered a stumbling block. The mortgage offer with Yorkshire Building Society runs out on 18/5/2026 but the vendors are putting forward a completion date of 20/5/2026. Is it possible to extend the loan offer?
The best person to address this issue is your lawyer who will calculate whether he or she is corresponding with the lender, owner’s lawyers, property agents or possibly all three given the history of your transaction to date.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Broseley. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Aldermore will insist on your using a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Broseley?
Unless a prior acquisition of the premises took place after 12 October 2013 you may expect solicitors delivering conveyancing in Broseley to remain recommending a chancel search and or chancel repair liability policy.
The estate agent has sent us the confirmation of our purchase of a new build flat in Broseley. 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Broseley
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Please supply a car parking plan. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Broseley I like with a park and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Broseley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Looking forward to exchange soon on a garden flat in Broseley. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Broseley should include some of the following:
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The physical extent of the demise. This may be the property itself but might incorporate a loft or storage are if appropriate. Who has the liability for maintaining the window frames The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Your solicitors should enable you to have an understanding of the insurance obligations Are you allowed to have a pet in the flat?
I bought a 2 bed flat in Broseley, conveyancing having been completed 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Broseley with over 90 years remaining are worth £180,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2085
With just 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.