I have 71 years left on my lease and require a lease extension for my flat in Dursley. Conveyancing solicitors on the Virgin panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting 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 1/3/2025 the requirements read as follows :

How does conveyancing in Dursley differ for newly converted properties?

Most buyers of new build premises in Dursley come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Dursley tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Dursley or who has acted in the same development.

I decided to have a survey completed on a property in Dursley ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some banks may not issue a mortgage on such a property.

It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dursley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dursley to see if the conveyancing will be more expensive.

I'm refinancing my existing property to a buy to let mortgage with Barnsley Building Society and I will use the ballance of the raised equity as a down payment on another house. The area we are talking about is Dursley. Will your solicitors be able to act for both sets of banks and tie in the conveyances?

Make use of our search tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are the lawyer should be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and make apparent your desired outcome and requirements.

I am a negotiator for a long established estate agency in Dursley where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Dursley conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Dursley Leasehold Conveyancing - A selection of Queries Prior to buying

This question is helpful as a) areas could result in problems for the block as the common areas may begin to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it Its a good idea to find out as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily issues such as the upkeep of the common parts. You should not be shy to ask other people if they are happy with them. Finally, find out the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. If a Dursley lease has no more than eighty years it will have adverse implications on the salability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you will need to own the residence for a couple of years in order to be legally able to extend the lease.