We were just about to sign contracts for a garden flat in Langstone. We have hit a snag. The mortgage offer with The Mortgage Works expires on 27/5/2025 but the owners are insisting on a completion date of 29/5/2025. Can one prolong the loan offer?
The best person to deal with your concern is your solicitors who will hopefully assess whether they should be discussing with the mortgage broker, seller’s representatives, property agents or conceivably all parties based on the circumstances your conveyancing to date.
It is a dozen years since I acquired my house in Langstone. Conveyancing lawyers have now been appointed on the sale but I can't find the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your lender or they may still be with the conveyancers who oversaw the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Most conveyancing in Langstone relates to registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
Do I have to attend the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Langstone so that I can pop in to their offices if required.
Most conveyancing panel lawyers for lenders undertake all of the communications via Royal Mail, internet or over phone calls. This means that they can undertake the legal work for your home move no matter where you live in the country. That being said you should check if you have the option of attending the offices of your conveyancing lawyer if needed.
I am buying a new build flat in Langstone. Conveyancing is necessary evil 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Langstone
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants.
I only have 62 years left on my flat in Langstone. I need to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. In some cases a specialist may be useful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Langstone.
I invested in buying a 1 bedroom flat in Langstone, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Langstone with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2087
You have 62 years unexpired we estimate the price of your lease extension to span between £17,100 and £19,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures 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 want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
Being a leasehold owner I am liable for a maintenance contribution for my flat in Langstone. Due to losing my job and other issues I fell into arrears with payments. I negotiated a clearance plan but there is still about £2000 remaining to be paid.
I now wish to dispose of the property and I am panicking this may jeopardize the sale if I have to pay off the amount due in advance. I'd like to sell up and then discharge the debt from the proceeds - is this achievable?
Your property lawyer should be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the sale proceeds. Here is indicative of why it is sensible to choose a property lawyer in Langstone as they may well enjoy a strong line of communication with the parties.