I have just over seventy years remaining on my lease and need a lease extension for my flat in Ilfracombe. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/4/2025 the requirements read as follows :
Are all Ilfracombe Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
Can I be sure that the Ilfracombe conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Ilfracombe obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your transaction.
Our offer on a semi in Ilfracombe has been accepted, the sellers do however have a connected purchase. The vendors have put an offer on a property, but it’s not yet agreed to, and have viewings of other flats booked. I have selected a bricks and mortar conveyancing solicitor in Ilfracombe. What do I do now? At what point should I apply for the mortgage with Leeds Building Society?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Ilfracombe conveyancing search fees, etc). First, you must check that your property lawyer is on the Leeds Building Society approved list. Concerning the subsequent stages this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with Leeds Building Society and pay for the valuation and only if it was satisfactory would they request their lawyer to proceed with the conveyancing in Ilfracombe.
My wife and I are close to exchanging contracts on the sale of our property in Ilfracombe and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Ilfracombe conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used a nationwide conveyancing outfit rather than a conveyancing solicitor in Ilfracombe. We have lived in Ilfracombe for 4 years we know that this is a non issue. Do we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm already. What do they say? You must check with 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 health insurance to cover that same sickness)
How does conveyancing in Ilfracombe differ for new build properties?
Most buyers of new build residence in Ilfracombe contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Ilfracombe tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ilfracombe or who has acted in the same development.
In relation to leasehold conveyancing in Ilfracombe what are the most frequent lease defects?
Leasehold conveyancing in Ilfracombe is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
I acquired a leasehold flat in Ilfracombe, conveyancing having been completed in 2009. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Ilfracombe with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2081
You have 56 years remaining on your lease we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
How much experience do your Ilfracombe conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Ilfracombe conveyancing lawyers help thousands of buyers move home every year and helped lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Ilfracombe conveyancers have worked on recent similar matters.