I have given 8 weeks notice to my current landlord and have to vacate my let out apartment in Great Missenden by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in a couple of weeks as I wish to avoid having to move into short term accommodation?
The normal practice is not to provide notice for your letting unless your lawyer suggests that you should. If you have not already done so, update to your lawyer and request that they apply pressure on the other solicitors, try to get a realistic time scale from them that all parties will look to achieve
I have Fifty Six years remaining on my lease and need a lease extension for my apartment in Great Missenden. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 3/12/2025 the requirements read as follows :
I have been told by my conveyancer that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Great Missenden?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Coventry Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
I'm the sole recipient of my late father’s will with all property in now in my sole name, including the my former home in Great Missenden. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I understand that there is a CML six month 'rule', which means that my proprietorship will be treated the same way as though I had purchased the property in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this provision is principally there to identify subsales or the quick reselling of property.
We previously instructed conveyancing lawyers locally in Great Missenden on the Skipton solicitor panel. They have just billed me an additional amount for handling the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not set by Skipton but by your Great Missenden property lawyer. Some firms on the Skipton panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I am tempted by the attractive purchase price for a two flats in Great Missenden which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Great Missenden is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 residence 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 Great Missenden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
I acquired a ground floor flat in Great Missenden, conveyancing having been completed March 2011. Can you work out an approximate cost of a lease extension? Similar properties in Great Missenden with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 2089
With 64 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
How much experience do your Great Missenden conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Great Missenden conveyancing lawyers help thousands of buyers move home every year and helped lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Great Missenden conveyancers have worked on recent similar cases.