We are about to sign contracts for a property in Oakley. We encountered a problem. Our mortgage offer with Bank of Ireland expires on 2/6/2025 but the vendors are suggesting a completion date of 4/6/2025. Is it possible to prolong the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will hopefully calculate whether he or she is corresponding with the bank, owner’s conveyancers, estate agents or possibly all three based on what has gone on in your conveyancing to date.
My colleague recommended that if I am purchasing in Oakley I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Oakley conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Oakley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Oakley Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Oakley.
I used Stirling Law a few years past for my conveyancing in Oakley. I now require my papers however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Oakley of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Oakley. 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.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Oakley
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the encouragement of my in-laws I had a survey completed on a house in Oakley ahead of appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies may not give a loan on such a house.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Oakley. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold property in Oakley. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a basement flat in Oakley, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Oakley with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2102
With only 77 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.