My Bloxham conveyancer has uncovered an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the conveyancing documents. My lawyer says that he is duty bound to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?

Your must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a house in Bloxham? or Apparently there is a law dating back centuries that could mean that owners of property living in a parish church boundary may be liable to contribute towards repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Bloxham?

Unless a prior purchase of the premises completed after 12 October 2013 you can assume that solicitors conducting conveyancing in Bloxham to remain recommending a chancel search and or chancel repair liability policy.

Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Bloxham I like with amenity areas and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Bloxham for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

Should you require a mortgage that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.

Hoping to buy a property located in Bloxham and I am already nervous. I couldn't find anything specific about Bloxham. Conveyancing will be needed in due course but do you know about the Bloxham area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Bloxham. In the meantime here are some basic statistics that we found

I am looking at a couple of flats in Bloxham both have in the region of fifty years left on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Bloxham is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bloxham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Bloxham Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying

If a Bloxham lease has fewer than 80 years it will affect the value of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will be be obliged to have been the owner of the premises for a couple of years before you are legally able to extend the lease. It would be sensible to find out as much as you can regarding the managing agents as they can either make living at the property much simpler or a lot more difficult. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to practical matters such as the cleanliness of the common parts. You should not be afraid to ask other people what they think of them. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money. Many Bloxham leasehold flats will have a service charge for maintenance of the block levied on behalf of the landlord. Should you buy the flat you will have to meet this charge, normally quarterly during the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay yearly, ordinarily this is not a significant figure, say approximately £25-£75 but you need to check as on occasion it can be many hundreds of pounds.