We are a couple about to sign contracts for a leasehold flat in Woolton. We encountered a stumbling block. The loan offer with Lloyds TSB Bank runs out on 13/4/2026 but the owners are suggesting a completion date of 15/4/2026. Can one extend the mortgage expiry date?
The person best placed to deal with your issue is your solicitors who should calculate if they should be discussing with the bank, seller’s representatives, property agents or conceivably all parties taking into account the circumstances your conveyancing to date.
I am considering applying for a RBS mortgage for purchase of a newly converted (under development) in Woolton with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Should commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Woolton?
Its becoming the norm that commercial conveyancing solicitors in Woolton will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Woolton. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Woolton.
For every commercial conveyancing transaction in Woolton it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Woolton commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Woolton.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who handled the conveyancing in Woolton 4 years ago are no longer around. What are my next steps?
Gone are the days when you need to have the physical original deeds to prove you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
I am purchasing a new build house in Woolton with a loan from Bank of Ireland. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about the extras as it could affect my loan with Bank of Ireland. Is this normal?.
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 want to rent out my leasehold apartment in Woolton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Woolton do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I acquired a split level flat in Woolton, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Woolton with an extended lease are worth £176,000. The ground rent is £50 per annum. The lease ends on 21st October 2106
With 80 years left to run the likely cost is going to range between £7,600 and £8,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.