We were just about to sign contracts for a semi detached house in Woldingham. We encountered a stumbling block. The loan offer with National Westminster Bank runs out on 13/4/2026 but the vendors are suggesting a completion date of 15/4/2026. Is it possible to prolong the mortgage expiry date?
The best person to address this concern is your solicitors who should determine if they should be discussing with the mortgage company, vendor’s representatives, estate agents or conceivably all three based on what has gone on in your transaction to date.
I am in the process of mortgaging my house in Woldingham, does my lawyer need to be on the Aldermore Conveyancing panel?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
What does a local search reveal concerning the house we're buying in Woldingham?
Woldingham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searches UK The local search is essential in every Woldingham conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
The estate agent has sent us the confirmation of our purchase of a new build flat in Woldingham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Woldingham
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Is it best to instruct a Woldingham conveyancing practitioner who is local to the property I am hoping to buy? An old friend can perform the legal work but they are based 300kilometers away.
The benefit of a high street Woldingham conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. Having local Woldingham know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and they were content that should outweigh using an unfamiliar Woldingham conveyancing lawyer solely due to them being based in the area.
I am employed by a busy estate agency in Woldingham where we have experienced a number of leasehold sales put at risk as a result of short leases. I have received inconsistent advice from local Woldingham conveyancing firms. Can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a first floor flat in Woldingham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Woldingham flat is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case was in relation to 3 flats. The unexpired term as at the valuation date was 75 years.