We are about to exchange contracts for a leasehold flat in Burnham On Crouch. We have hit a snag. Our mortgage offer with Yorkshire Building Society runs out on 21/1/2025 but the owners are putting forward a completion date of 23/1/2025. Can one prolong the mortgage expiry date?
The person best placed to deal with your concern is your solicitors who will hopefully calculate whether they better off negotiating with the mortgage broker, seller’s solicitors, estate agents or possibly all three based on the history of your conveyancing as of today.
We are purchasing a house and require a conveyancing solicitor in Burnham On Crouch who is on the Bank of Ireland solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Burnham On Crouch.
I just bought a house at auction in Burnham On Crouch. Conveyancing is necessary. What is next?
Given that you have now exchanged you must find a conveyancing solicitor soon as you now have a pending a drop dead date to complete the conveyancing. An auction property will have an associated legal set of papers. This will likely include evidence of title and search results. In the case of leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You should give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
Forgive me if this question is silly but I am new to the home buying as FTB of a garden flat in Burnham On Crouch. Do I pick up the keys to the house on completion from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Burnham On Crouch?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you should be invited to pick up the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I had an offer accepted on a house in Burnham On Crouch on 14/10/2024, valuation was booked 4 days later, all came back fine. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Yorkshire BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire BS conveyancing panel. Are Yorkshire BS entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I bought my apartment on 12 August and my personal details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Burnham On Crouch advises it would be formalised inside ten days. Are transfers in Burnham On Crouch uniquely lengthy to register?
As far as conveyancing in Burnham On Crouch registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any interested persons or bodies. At present approximately three quarters of such applications are fully dealt with within 12 days but some can be subject to protracted delays. Historically registration occurs once the purchaser is living at the premises thus registration formalities is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers could contact the land registry and explain the circumstances.
I am employed by a long established estate agency in Burnham On Crouch where we have experienced a few flat sales jeopardised due to short leases. I have been given contradictory information from local Burnham On Crouch conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. 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 disposal of the property.
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 buyer.
I own a garden flat in Burnham On Crouch, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Burnham On Crouch with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087
With 63 years remaining on your lease we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do 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 you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
I’m about to sell my garden apartment in Burnham On Crouch.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as usual because all ground rent and maintenance payments should be apportionedon completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially