About to place a bid on a leasehold apartment in Culcheth. The selling agents advise that it is normal for flats in Culcheth to have less than 75 years remaining. I am getting a mortgage with Virgin. Is this going to be acceptable if the lease has 69 years to go.

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. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/11/2024 the requirements read as follows :

I'm purchasing my first flat in Culcheth with a mortgage from Birmingham Midshires. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my lawyer about the deal as it could jeopardize my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Culcheth is the location of the property. Is there any guidance you can impart?

Flying freeholds in Culcheth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Culcheth you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Culcheth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I'm remortgaging my current house to a buy to let loan with HSBC Bank and I will use the rest of the raised equity as a down payment on another house. The location we are talking about is Culcheth. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?

Do use our comparison tool on this page to check that the conveyancers are on the appropriate lender panels. On the basis that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and make clear your desired outcome and requirements.

I have just started marketing my ground floor apartment in Culcheth. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is pay the maintenance contribution as you normally would as all rents and service payments should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Culcheth Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

You should want to discover as much as possible about the managing agents as they can either make your living at the property much easier or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. Ask prospective neighbours whether they are happy with their service. Finally, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money. It is important to be aware if a new roof is being put on or some other major work is coming up to be shared by the leasehold owners and will materially increase the the service fees or necessitate a one time payment. How many years are left on the lease?