We were just about to sign contracts for a leasehold flat in Four Oaks. We have hit a problem. The mortgage offer with expires on but the owners are insisting on a completion date of . Is it possible to prolong the mortgage offer?
The best person to address this question is your conveyancer who is in a position to calculate whether he or she is better off negotiating with the mortgage broker, vendor’s solicitors, selling agents or indeed all three taking into account the history of your transaction to date.
It is a dozen years since I bought my house in Four Oaks. Conveyancing lawyers have now been retained on the sale but I am unable to locate my title deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with the mortgage company or they could stored with the lawyers who acted in your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Four Oaks relates to registered property but in the unlikely event that your property is not registered it is more of a problem but is not insurmountable.
Just acquired a semi-detached house in Four Oaks , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Four Oaks conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are dealt with.
As far as conveyancing in Four Oaks is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd persons or bodies. Currently approximately 80% of submission are fully dealt with within two weeks but occasionally there can be extensive hold-ups. Historically registration takes place once the purchaser is living at the property so 'speed' is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I decided to have a survey carried out on a house in Four Oaks in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies will not give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Four Oaks. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Four Oaks to see if the conveyancing costs will increase in light of this.
I inherited a ground floor flat in Four Oaks, conveyancing having been completed in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Four Oaks with a long lease are worth £165,000. The ground rent is £45 levied per year. The lease ends on 21st October 50
With 50 years left to run the likely cost is going to span between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.