I am about to put an offer on a leasehold property in Coombe. The property agents assure me that it is the norm for flats in Coombe to have less than 75 years left on the lease. I am expecting a loan with Platform. Is this going to be acceptable if the lease has 69 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/4/2025 the requirements read as follows :
A relative suggested that if I am buying in Coombe I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Coombe conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Coombe around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Coombe Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Coombe.
I have been on the look out for a flat up to £235,500 and found one close by in Coombe I like with amenity areas and station nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Coombe suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Coombe and how can you help?
The 1954 Act affords protection to business tenants, granting the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Coombe
I need to appoint a conveyancing solicitor for sale conveyancing in Coombe. I happened to stumble upon a site which looks to be the perfect offering If it is possible to get all formalities completed via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Me and my partner are buying a three bedroom flatin Coombe with a residential mortgage from a mortgage company. We would like to retain our solicitor in Coombe yet our lender advise he's not approved on their "panel". We have to appoint one of the our lender panel firms or stay with our Coombe conveyancer and incur the extra fees for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Coombe lawyer?
Unfortunately,no. The lender home loan offered to you is subject to its terms and conditions, one of which will be that solicitors will on the mortgage company's conveyancing panel. Until recently, most lenders had open panels, including most conveyancing solicitors in Coombe : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your mortgage company.