We are a couple about to exchange contracts for a leasehold flat in Penmaenmawr. We have hit a stumbling block. Our loan offer with Chelsea Building Society runs out on 17/9/2025 but the owners are insisting on a completion date of 19/9/2025. Is it possible to extend the mortgage offer?
The person best placed to deal with your concern is your lawyer who should calculate whether he or she is corresponding with the mortgage broker, seller’s representatives, estate agents or conceivably all three based on the circumstances your house move to date.
Why is leasehold purchase conveyancing in Penmaenmawr is more expensive?
The conveyancing fees on a leasehold premises in Penmaenmawr is often higher than on a freehold property. This is due to the additional time necessary in communicating with the landlord and managing agents to collate the evidence about whether the rent and service fee have been paid and whether there are any major works due in the near future on repairs or maintenance of the building.
I require quick conveyancing in Penmaenmawr as I am faced with a deadline to sign on the dotted line inside one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to have searches conducted although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Penmaenmawr the following are instances of issues that can show up and therefore affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
Just had an offer accepted on a new build apartment in Penmaenmawr. Conveyancing is daunting 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 few leasehold new build questions that you can expect your new-build leasehold conveyancing in Penmaenmawr
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared.
I decided to have a survey completed on a property in Penmaenmawr prior to appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may refuse to give a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penmaenmawr. Conveyancing may be slightly more expensive based on your lender's requirements.
Is there a reason that Penmaenmawr conveyancing fees are higher for leasehold and freehold properties?
When purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control