We were just about to sign contracts for a semi detached house in Jesmond. We have hit a stumbling block. The mortgage offer with HSBC Bank runs out on 22/8/2025 but the vendors are suggesting a completion date of 27/8/2025. Is it possible to extend the loan offer?
The best person to deal with your concern is your lawyer who should calculate if he or she is better off negotiating with the bank, vendor’s representatives, selling agents or indeed all three based on what has happend in your house move as of today.
My wife and I have a terraced Georgian property in Jesmond. Conveyancing practitioner acted for me and Alliance & Leicester . I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to 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 Jesmond 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 completed the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Jesmond. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Jesmond
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Jesmond I like with amenity areas and railway links in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Jesmond in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I have been pointed in your direction by a few property agents in Jesmond to locate a property lawyer on your site. What’s the financial inducement for Estate Agents to market your services ahead of another?
We don’t offer any referral fee for directing people to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Finally our conveyancing in Jesmond is completing on Friday, yet the sellers I am buying from wishes to move out on the Saturday at 2pm. Can I agree to this?
In situations where you require a bank loan then your solicitor will demand that the premises arevacant on Friday - the mortgage company will require it.