We were just about to exchange contracts for a leasehold flat in Redfield. We encountered a stumbling block. The loan offer with Chelsea Building Society runs out on 4/3/2026 but the sellers are suggesting a completion date of 6/3/2026. Is it possible to extend the loan expiry date?
The best person to deal with your issue is your solicitors who is in a position to assess if they corresponding with the bank, vendor’s lawyers, estate agents or possibly all three taking into account what has gone on in your house move as of today.
My uncle pointed out to me me that in purchasing a property in Redfield there may be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Redfield which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Redfield should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Redfield solicitor practices on the Principality conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
I have a mortgage with Nationwide for my property in Redfield. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
You must advise Nationwide before letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. You need not do this via a Nationwide conveyancing panel firm.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial land in Redfield?
Many commercial conveyancing solicitors in Redfield will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Redfield. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Redfield.
For each commercial conveyancing transaction in Redfield it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Redfield commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Redfield.
I am looking for a leasehold apartment up to £245,000 and found one close by in Redfield I like with a park and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Redfield for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How easy is it to switch solicitor as I have to appoint a firm on the Coventry Building Society conveyancing list. I was using a family conveyancing solicitor in Redfield round the corner but he is not accepted by Coventry Building Society
We will our best to assist in finding you a conveyancing solicitor in Redfield on the Coventry Building Society panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Redfield. In utilising search facility on this website, you can scrutinise fees for conveyancing solicitors in Redfield and beyond.
I have recently realised that I have 68 years unexpired on my flat in Redfield. I am keen to get lease extension but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the landlord. In some cases an enquiry agent would be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Redfield.
I own a basement flat in Redfield, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Redfield with a long lease are worth £180,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2085
With only 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. 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 considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.