I am about to put a bid on a leasehold property in Mitcham. The estate agents assure me that it is usual for flats in Mitcham to have less than 75 years left on the lease. I am taking out a loan with Virgin. Is this going to be a problem if the lease has Seventy One years remaining.
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. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/1/2025 the requirements read as follows :
I have todaybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Mitcham for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Mitcham conveyancing specialists.
I'm refinancing my primary house to a BTL mortgage with Bank of Ireland and intend to use the remaining equity as a down payment on a second property. The area we are interested in is Mitcham. Will your conveyancers be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this site to check that the solicitors are approved by both lenders. Assuming that they are the lawyer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make clear your expectations and needs.
I am thinking of appointing a conveyancing lawyer in Mitcham for my home move. Is there any facility to review a solicitor's record with the legal regulator?
You may search for presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.
After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Mitcham. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Freehold Enfranchisement decision for a Mitcham residence is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case affected 2 flats. The remaining number of years on the lease was 86.11 and 60.64.
In relation to leasehold conveyancing in Mitcham what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Mitcham. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed conveyancing instructions 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 provide security, forcing the purchaser to withdraw.
Living abroad I am unable to travel my Mitcham conveyancing solicitors office to sign documents for conveyancing in Mitcham – will this be an issue?
Not a problem. Mitcham conveyancing lawyers can handle conveyancing transactions for clients who are based anywhere. It is not necessary for you to be able to be present a Mitcham conveyancers office. Almost all conveyancing practitioner can handle all communications remotely from their Mitcham office.