We are a couple about to exchange contracts for a garden flat in Hanworth. We encountered a problem. Our mortgage offer with National Westminster Bank expires on 24/9/2026 but the sellers are insisting on a completion date of 28/9/2026. Can one extend the loan expiry date?
The person best placed to deal with your question is your lawyer who is in a position to assess if they better off negotiating with the mortgage company, vendor’s representatives, selling agents or indeed all parties taking into account the circumstances your conveyancing as of today.
Can you explain why leasehold purchase conveyancing in Hanworth is more expensive?
In short, leasehold conveyancing in Hanworth and elsewhere usually warrants additional due diligence compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord concerning serving appropriate notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
My grandmother passed away last year and as sole heir and executor I was left the house in Hanworth. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
If you intend to refinance then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
I am buying a new build house in Hanworth benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about this side-deal as it may adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Despite our best efforts, we have been unsuccessful in seeking a lease extension in Hanworth. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Hanworth conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hanworth flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The remaining number of years on the lease was 82.93 years.
What makes a Hanworth lease unmortgageable?
There is nothing unique about leasehold conveyancing in Hanworth. All leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Virgin Money, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Should I be concerned if there is a problem with the searches carried out as part of my conveyancing in Hanworth?
Ordinarily, the majority of issues arising from Hanworth conveyancing search responses can be dealt with in advance of completion or title insurance may be taken. It is important to note that although you may be acquiring the property and may be willing to live with the search results, your lender may not, and ultimately the decision rests with them.