We are a couple about to sign contracts for a freehold house in Lake. We have hit a problem. Our loan offer with Nationwide Building Society expires on 8/1/2026 but the vendors are insisting on a completion date of 12/1/2026. Can one prolong the mortgage expiry date?
The best person to deal with your issue is your conveyancer who will calculate if he or she is should be discussing with the bank, seller’s lawyers, estate agents or possibly all three taking into account the circumstances your house move as of today.
Why is leasehold purchase conveyancing in Lake costs more?
The conveyancing costs on a leasehold premises in Lake is inevitably greater when contrasted to a freehold residence. This is because there is an amount of extra investigations necessary in corresponding with the freeholder and management company to collate the evidence about whether the rent and maintenance fee have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
We're in Lake, FTBs buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Hoping to buy a property located in Lake and I am already nervous. I couldn't find anything specific about Lake. Conveyancing will be needed in due course but do you know about the Lake area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Lake. In the meantime here are some basic statistics that we found
Am I best advised to go with a Lake conveyancing lawyer based in the vicinity that I am buying? I have an old university friend who can handle the legal formalities but her office is a couple of hundredmiles drive away.
The benefit of a high street Lake conveyancing firm is that you can pop in to sign paperwork, present your ID and pester them where appropriate. Having local Lake know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that must outweigh using an unfamiliar Lake conveyancing solicitor just because they are Lake based.
Back In 2009, I bought a leasehold flat in Lake. Conveyancing and Coventry Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Lake who previously acted has long since retired. Do I pay?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lake conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a garden flat in Lake, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Lake with an extended lease are worth £197,000. The ground rent is £55 charged once a year. The lease ceases on 21st October 2080
With 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.