We were just about to exchange contracts for a freehold house in Harwell. We have hit a snag. The loan offer with Barclays runs out on 29/12/2026 but the vendors are putting forward a completion date of 31/12/2026. Can one extend the mortgage expiry date?
The person best placed to address this question is your lawyer who will determine if he or she is should be discussing with the lender, owner’s conveyancers, selling agents or conceivably all three taking into account the history of your transaction as of today.
I am purchasing a property and require a conveyancing solicitor in Harwell who is on the Alliance & Leicester approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Harwell. We dont recommend any particular firm.
Me and my brother have a 4 bedroom Victorian property in Harwell. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Harwell 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 mortgage companies. You can also enquire as to the position with your conveyancing solicitor who completed the work.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Harwell is where the house is located. Can you shed any light on this issue?
Flying freeholds in Harwell are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harwell you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harwell 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 premises.
What are your top tips when it comes to appointing a Harwell conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Harwell conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Harwell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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What volume of lease extensions have they carried out in Harwell in the last twenty four months?
I purchased a split level flat in Harwell, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Harwell with a long lease are worth £206,000. The ground rent is £45 levied per year. The lease expires on 21st October 2091
With 65 years unexpired we estimate the premium for your lease extension to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
Threeweeks into purchasing a house in Harwell. Conveyancing lawyer has called to say the title is "Leasehold". Does this make a difference on our home loan valuation?
Harwell conveyancing does not in most situations involve leasehold houses. The main factor here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's virtually freehold, so it’s unlikely to impact the marketability significantly.
At the other extreme, if it's, say, 50 years it is bound to have a adverse impact on the value, and probably wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be specified in the lease provided to your solicitor.