We are about to sign contracts for a property in Wincanton. We have hit a stumbling block. The mortgage offer with Barclays Direct expires on 28/7/2025 but the owners are suggesting a completion date of 30/7/2025. Is it possible to extend the mortgage expiry date?
The best person to address this question is your conveyancer who should assess if they better off negotiating with the mortgage company, seller’s conveyancers, selling agents or possibly all parties taking into account the circumstances your conveyancing as of today.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wincanton
There are many registered licenced Conveyancers in Wincanton and Solicitor partnerships in Wincanton who can help with your conveyancing We would stress that the two are regulated professionals specialising in the legal work in transferring property. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am being told by my solicitor that lack of planning permission insurance is needed on my purchase. What is the level of cover for Wincanton conveyancing?
The right level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I have paid off my mortgage with UBS. I assume I don't need a Wincanton solicitor on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
My wife and I have a terraced Victorian property in Wincanton. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wincanton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing solicitor who completed the work.
About to purchase a new build apartment in Wincanton. 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.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Wincanton
-
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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Wincanton I like with open areas and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Wincanton suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Expecting to exchange soon on a leasehold property in Wincanton. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Wincanton should include some of the following:
-
What you can do if another tenant in the building breaches a clause of their lease? Information concerning the obligations in the lease to to contribute towards maintenance costs - in respect of the block, and the more general rights a tenant enjoys The physical ownership of the demise. This will be the property itself but may incorporate a roof space or basement if appropriate. Does the lease prohibit wood flooring? Repair and maintenance of the premises
Wincanton Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
-
Is anyone aware of any major works on the horizon that could increase the service costs? If a Wincanton lease has less than eighty years it will affect the value of the flat. Check with your lender that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this will be. For most Wincantonlease extensions you will be be obliged to have been the owner of the premises for two years before you are entitled to carry out a lease extension. It is important to be aware whether a new roof is being installed or some other significant cost is due in the foreseeable future to be shared amongst the leaseholders and will dramatically increase the the maintenance costs or result in a specific invoice.