Is there a reason why leasehold purchase conveyancing in Gwernaffield is more expensive?
Gwernaffield leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Gwernaffield. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/7/2025, the requirements read as follows :
Are there restrictive covenants that are commonly picked up as part of conveyancing in Gwernaffield?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Gwernaffield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Gwernaffield I like with open areas and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Gwernaffield in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
What tools are available to locate a Gwernaffield law firm on the Clydesdale conveyancing panel? I am a keen cyclist and am prepared to travel upto 25miles to meet the conveyancer.
You can use the facility on this website. Please select a lender and your location and you will see a number of Gwernaffield conveyancing lawyers locally. We have listed some Gwernaffield conveyancing firms at the bottom of this page and you can ring them to see whether they are on the Clydesdale panel