Various web forums that I have frequented warn that are the main reason for hinderance in Beddington conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Beddington.

I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Beddington I like with a park and railway links nearby, however it's only got 49 years on the lease. There is not much else in Beddington in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to 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 lawyer concerning this.

I'm refinancing my current house to a BTL mortgage with Chelsea Building Society and I will use the rest of the raised equity as a deposit on another property. The area we are interested in is Beddington. Will your solicitors be able to act for both sets of mortgage companies and link together the two deals?

Make use of our comparison tool on this page to be sure that the lawyers are on the relevant lender panels. Assuming that they are your lawyer should be able to tie up the two transactions but you should have a chat with you solicitor and communicate your expectations and requirements.

I am tempted by the attractive purchase price for a couple of flats in Beddington which have in the region of fifty years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Beddington is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under 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 Beddington 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.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Beddington conveyancing firm to help?

Most certainly. We can put you in touch with a Beddington conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Beddington flat is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The unexpired term was 69.46 years.

Do I cancel the direct debit for my mortgage with Yorkshire BS once a completion date for my home sale in Beddington has been agreed?

No, you should continue meeting any mortgage sums to Yorkshire BS until the mortgage is repaid on completion as part of your Beddington conveyancing.