I have 70 years unexpired on my lease and need a lease extension for my flat in Burton Latimer. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/12/2024 the requirements read as follows :
We are due to move house in February. Will my conveyancing solicitor call the removal company on the day of completion. As an aside, can you suggest a removal company in Burton Latimer. Conveyancing solicitor was chosen before I stumbled across your page.
On the afternoon of completion you can collect the house keys from your property agent however this should only occur when the sellers lawyers advise the agent that they have the completion monies and the keys can be handed over. Subsequently you should tell the removal company that you are ready to move in. We are not in a position to suggest a specific removal organisation but can assist you in choosing a conveyancing in Burton Latimer or a solicitor with expertise in conveyancing in Burton Latimer.
I am being told by my conveyancer that absentee landlord insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Burton Latimer?
The appropriate level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Santander and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
We previously chose conveyancers locally in Burton Latimer on the TSB solicitor approved list. They are now charging me a supplemental fee for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee set by TSB?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your lawyer is entitled to charge a fee for this. The charge is not dictated by TSB but by your Burton Latimer lawyer. Plenty of firms on the TSB panel will charge ’dealing with mortgage’ fee but some practices include it on their overall fee.
We are purchasing a property and the lawyer has raised the issue of Chancel Repair to which the house may be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this really appropriate for conveyancing in Burton Latimer
Unless a previous acquisition of the premises took place after 12 October 2013 you can expect lawyers delivering conveyancing in Burton Latimer to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified as part of conveyancing in Burton Latimer?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Burton Latimer. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Burton Latimer I like with amenity areas and railway links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Burton Latimer for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
What advice can you give us when it comes to choosing a Burton Latimer conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Burton Latimer 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 Burton Latimer conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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What are the charges for lease extension conveyancing? If the firm is not ALEP accredited then why not?
I own a studio flat in Burton Latimer, conveyancing having been completed April 2011. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Burton Latimer with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2095
With 71 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.