We are about to sign contracts for a leasehold flat in Burton Bradstock. We encountered a snag. Our loan offer with Skipton Building Society runs out on 8/1/2026 but the vendors are insisting on a completion date of 12/1/2026. Can one extend the loan offer?
The person best placed to address this concern is your solicitors who will hopefully assess whether they corresponding with the lender, owner’s lawyers, property agents or possibly all parties taking into account the history of your house move as of today.
We wanted to use a conveyancing solicitor in Burton Bradstock for our house purchase. Our broker has since notified us that our bank Barnsley Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all Burton Bradstock conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms relating to their operations and their employees as well as set certain criteria such a completing on a minimum amount of transactions. Many Burton Bradstock conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Burton Bradstock is one of the thousands of locations where the conveyancers showing on our search results are are authorised to act for Barnsley Building Society.
A friend recommended that if I am buying in Burton Bradstock I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Burton Bradstock conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Burton Bradstock around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Burton Bradstock Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Burton Bradstock Education with plans and statistics, Local Amenities and other useful information regarding Burton Bradstock.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who dealt with the conveyancing in Burton Bradstock 5 years ago have long since closed. What are my options?
These day there are copies made of almost everything, and your solicitor should be aware precisely where to look for all the suitable documentation so you may purchase or sell your house without any difficulty. If copies can’t be located, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the property.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Burton Bradstock is the location of the property. Can you offer any advice?
Flying freeholds in Burton Bradstock are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burton Bradstock you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burton Bradstock may ascertain 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 residence.
I am employed by a reputable estate agency in Burton Bradstock where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Burton Bradstock conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Burton Bradstock Leasehold Conveyancing - A selection of Queries before buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Best to be warned whether window replacement or some other significant cost is coming up that will be shared amongst the leaseholders and will dramatically impact the level of the maintenance costs or necessitate a specific invoice. Where a Burton Bradstock lease has fewer than 80 years it will have adverse implications on the salability of the flat. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would be be obliged to have owned the residence for 24 months before you are eligible to extend the lease.