We are a couple about to exchange contracts for a leasehold flat in West Hill. We have hit a snag. Our loan offer with Santander expires on 7/9/2026 but the vendors are suggesting a completion date of 9/9/2026. Is it possible to prolong the loan offer?
The best person to deal with your issue is your lawyer who will determine if they corresponding with the mortgage broker, owner’s solicitors, selling agents or possibly all parties given the history of your transaction as of today.
A colleague recommended that where I am purchasing in West Hill I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your West Hill conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about West Hill around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, West Hill Education with plans and statistics, Local Amenities and other useful data concerning West Hill.
It has been 4 months following my purchase conveyancing in West Hill completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in West Hill I like with a park and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in West Hill for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I inherited a first floor flat in West Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement case for a West Hill residence is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case related to 7 flats. The unexpired residue of the current lease was 75.88 years.
What are the frequently found defects that you come across in leases for West Hill properties?
Leasehold conveyancing in West Hill is not unique. All leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage Insurance obligations
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
I have selected a West Hill conveyancing solicitor for our house purchase (first time buyers) and have picked up in the terms and conditions that they are not covered by the Financial Conduct Authority. Need I be concerned or is that standard with conveyancing practitioner?
We can't see why they should be. Most solicitor don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who dictate specific obligations regulating funds held on client account.