We were just about to sign contracts for a ground floor flat in Pyle. We encountered a stumbling block. The loan offer with Virgin Money runs out on 11/12/2025 but the sellers are insisting on a completion date of 15/12/2025. Is it possible to extend the mortgage offer?
The person best placed to address this question is your conveyancer who will hopefully determine whether they should be discussing with the mortgage company, vendor’s representatives, property agents or conceivably all parties taking into account what has happend in your conveyancing to date.
About to place a bid on a leasehold apartment in Pyle. The property agents advise that it is usual for flats in Pyle to have less than 75 years left on the lease. I am getting a mortgage with Platform. Will the property be mortgageable given that the lease has 72 years left.
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. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 11/10/2025 the requirements read as follows :
I have todayfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Pyle for a purchase of a leasehold apartment 12 months ago. How can I check that the property is in my name in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make 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 Pyle conveyancing specialists.
We are 3 weeks into a leasehold purchase having been referred to a firm by the local agent to perform conveyancing in Pyle. I am am starting to be disappointed with the level of service. Could you help me find new lawyers?
A conveyancer would have to be very bad in order to consider changing them. Has the mortgage offer been sent? In the event that it has you will need to make them aware of the new contact details and get the offer are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company approved list to avoid added charges and complications. That should be your starting point. The search tool should help you find a lender approved lawyer for your conveyancing in Pyle
What makes a Pyle lease unacceptable for security purposes?
Leasehold conveyancing in Pyle is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. 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 Repairing obligations to or maintain parts of the premises
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Aldermore all have very detailed requirements 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, obliging the buyer to withdraw.
I invested in buying a 2 bed flat in Pyle, conveyancing formalities finalised in 2001. Can you work out an approximate cost of a lease extension? Similar properties in Pyle with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2087
You have 62 years left to run the likely cost is going to range between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt 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 before seeking the advice of a professional.
We are midway through buying a residence in Pyle. Conveyancing lawyer has told us the property is "Leasehold". Should this adversely affect the salability of the house?
Pyle conveyancing does not normally involve leasehold houses. The main consideration here is the remaining lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to affect the saleability too much.
At the other end of the spectrum, if it's, say, 50 years it is bound to have a significant effect on the saleability, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease to be supplied to your lawyer.