We were just about to sign contracts for a garden flat in Rochdale. We have hit a problem. Our mortgage offer with Norwich and Peterborough Building Society expires on 5/12/2025 but the owners are suggesting a completion date of 9/12/2025. Can one extend the mortgage offer?
The person best placed to deal with your concern is your lawyer who will hopefully calculate if he or she is should be discussing with the lender, vendor’s conveyancers, property agents or conceivably all parties taking into account the circumstances your conveyancing to date.
I am the registered owner of a freehold residence in Rochdale but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Rochdale and has limited impact for conveyancing in Rochdale but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
About to purchase a new build flat in Rochdale. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Rochdale
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Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the advice of my in-laws I had a survey completed on a property in Rochdale prior to instructing solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks tend not give a loan on such a house.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Rochdale. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just started marketing my garden apartment in Rochdale. Conveyancing lawyers have not yet been instructed, but I have recently received a half-yearly service charge demand – what should I do?
It best that you pay the service charge as usual because all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Rochdale - Sample of Queries Prior to Purchasing
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The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the leaseholders have control and although a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. If a Rochdale lease has fewer than 80 years it will have adverse implications on the value of the property. Check with your bank that they are happy with residual term of the lease. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for a couple of years in order to be eligible to extend the lease.
A couple of weeks ago I was told by my mortgage company that their panel lawyers operate no sale no charge basis for conveyancing in Rochdale. My purchase aborted and now the solicitors have invoiced for search fees! They say the fees are nothing to do with their fees!
Rochdale conveyancing search costs are separate expenses not legal costs as these are due to a third party.