We were just about to exchange contracts for a garden flat in Ryton. We have hit a stumbling block. The mortgage offer with Accord Mortgages Ltd runs out on 23/4/2025 but the sellers are insisting on a completion date of 25/4/2025. Is it possible to prolong the mortgage expiry date?
The best person to deal with your concern is your lawyer who is in a position to calculate if they corresponding with the lender, seller’s representatives, selling agents or indeed all parties given the circumstances your house move to date.
We are close to exchanging contracts on the sale of our house in Ryton and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Ryton. We have lived in Ryton for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I purchased a terraced Edwardian property in Ryton. Conveyancing lawyer acted for me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ryton and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing solicitor who conducted the purchase.
I am buying my first flat in Ryton with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not reveal to my solicitor about the extras as it would affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey completed on a property in Ryton before retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks will not grant a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ryton. Conveyancing will be smoother if you use a solicitor in Ryton especially if they are familiar with such properties in Ryton.
Do you have any top tips for leasehold conveyancing in Ryton with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Ryton can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. Some Ryton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. The majority of freeholders or Management Companies in Ryton charge for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Ryton. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Ryton leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place you should not contact the landlord without checking with your conveyancer in the first instance.
Ryton Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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In the main the outlay for major works tend not to be incorporated into the maintenance charges, albeit that there some managing agents in Ryton obliged tenants to pay into a sinking fund and this is used to offset against major works. Please inform me if there are any major works anticipated that will likely add a premium to the maintenance charges? Who manages the block?