About to place a bid on a leasehold property in Mynydd Isa. The selling agents tell me that it is usual for flats in Mynydd Isa to have less than 75 years left on the lease. I am obtaining a loan with Chelsea Building Society. Will the property be mortgageable given that the lease has 72 years unexpired.
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. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/7/2025 the requirements read as follows :
My conveyancer has informed me that chancel insurance is needed on my purchase. What is the level of cover for Mynydd Isa conveyancing?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Skipton Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
We previously instructed solicitors located in Mynydd Isa on the Aldermore solicitor panel. They have just billed me a separate fee for dealing with the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your lawyer can levy a fee for this. The fee is not dictated by Aldermore but by your Mynydd Isa lawyer. Plenty of firms on the Aldermore panel will quote an ‘acting for lender’ fee and others do not.
I have finally had an offer on an apartment in Mynydd Isa accepted, the sellers do nevertheless have a dependent purchase. The sellers have offered on a property, but it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Mynydd Isa. What should be my next step? When do I get the mortgage application with Leeds Building Society started?
It is usual to have concerns 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 valuation, Mynydd Isa conveyancing search costs, etc). First, you should ensure that your conveyancer is on the Leeds Building Society approved list. Concerning the next steps this very much depends on the specifics of your case, motivation for this property and on the state of the market. During a rising market some home buyers will 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 move forward with searches.
I have been on the look out for a flat up to £235,500 and found one round the corner in Mynydd Isa I like with open areas and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Mynydd Isa suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
How simple is it to transfer to a new conveyancer as I need to retain one who is on the Barclays conveyancing list. I had appointed a high street conveyancing solicitor in Mynydd Isa five minutes from me but she is not accepted by Barclays
It would be our pleasure to help you select a conveyancing solicitor in Mynydd Isa on the Barclays panel. Please note that the law firms that we list do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Mynydd Isa. In utilising search facility on this page, you can compare costs for conveyancing solicitors in Mynydd Isa and throughout England and Wales.
I work for a long established estate agency in Mynydd Isa where we have experienced a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Mynydd Isa conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Mynydd Isa - A selection of Queries before Purchasing
-
Is there a share of the freehold? How many of the leaseholders are in arrears for their maintenance charge payments? What restrictions exist in the Mynydd Isa Lease?
I bought a house in Mynydd Isa last 18/6/2024 and to date it is still not recorded with HM Land Registry. It was part of a development site and my lawyer told me that it may take 12 months to register. I have called the Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. What can I do?
It is your property lawyer that you must turn to here in order to satisfy any concerns which have arisen as part of the registration formalities for your Mynydd Isa property. Normal Mynydd Isa conveyancing practice includes an undertaking on the part of the seller's conveyancing practitioner that they will assist in resolving any registration raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.