We were just about to sign contracts for a garden flat in Crymych. We encountered a stumbling block. The loan offer with Britannia expires on 23/1/2025 but the sellers are putting forward a completion date of 27/1/2025. Can one prolong the mortgage expiry date?
The best person to deal with your question is your lawyer who will hopefully calculate whether they should be discussing with the mortgage broker, seller’s solicitors, property agents or indeed all three given the history of your transaction as of today.
I know that there are debates on Chancel Insurance on online forums. Do I require this when purchasing a property in Crymych? or I am told that there is a law dating back centuries that could mean that owners of property residing in a parish church boundary may be liable to contribute towards repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Crymych?
Unless a previous acquisition of the premises completed post 12 October 2013 you can expect solicitors delivering conveyancing in Crymych to remain encouraging a chancel search and or insurance against a claim.
My wife and I have a 4 bedroom Victorian property in Crymych. Conveyancing practitioner represented me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Crymych and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing solicitor who conducted the conveyancing.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Crymych I like with open areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Crymych for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months 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 and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
Am I best advised to use a Crymych conveyancing solicitor based in the vicinity that I am buying? I have an old university friend who can carry out the conveyancing however they are based 400kilometers drive away.
The benefit of a local Crymych conveyancing firm is that you can visit the firm to execute paperwork, hand in your ID and pester them where appropriate. Having local Crymych know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that should surpass using an unfamiliar Crymych conveyancing lawyer just because they are round the corner.
Can you provide any advice for leasehold conveyancing in Crymych with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Crymych can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors. The majority of landlords or Management Companies in Crymych charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Crymych. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a duplicate share certificate can be a time consuming formality and slows down many a Crymych conveyancing deal. If a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
Crymych Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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How many years remain on the lease? Does the lease contain onerous restrictions? The prefered form of lease structure is a share of the freehold. In this situation the lessees have control and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.