My IFA says he needs my Histon solicitor’s panel member for the HSBC conveyancing panel. Can you suggest how I obtain this. I have tried my local Histon office but they don't know it.
You are best placed to get this information from your Histon conveyancing practitioner . They should have a central record lender panel numbers.
We were just about to exchange contracts for a leasehold flat in Histon. We encountered a snag. Our mortgage offer with Chelsea Building Society runs out on 16/7/2025 but the sellers are insisting on a completion date of 18/7/2025. Can one extend the loan offer?
The person best placed to address this concern is your lawyer who will assess if they better off negotiating with the lender, vendor’s lawyers, selling agents or indeed all three based on the circumstances your transaction as of today.
My wife and I are close to exchanging contracts on the sale of our home in Histon and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Histon conveyancer would know this is not the case. It does beg the question why the buyers instructed an internet conveyancing firm rather than a conveyancing solicitor in Histon. Having lived in Histon for many years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I purchased a 4 bedroom Georgian property in Histon. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching property. Is it worth asking Britannia to clarify?
You should assess 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 Histon and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing practitioner who conducted the purchase.
I am looking for a leasehold apartment up to £245,000 and found one close by in Histon I like with a park and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Histon in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I am employed by a reputable estate agent office in Histon where we have witnessed a few flat sales derailed due to short leases. I have been given inconsistent advice from local Histon conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a garden flat in Histon, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Histon with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2092
You have 67 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional 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 based on this information before seeking the advice of a professional.