About to place a bid on a leasehold property in Maltby. The estate agents tell me that it is the norm for flats in Maltby to have less than 75 years remaining. I am obtaining a loan with Bank of Ireland. Will the property be mortgageable given that the lease has 72 years unexpired.

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 20/12/2024 the requirements read as follows :

We previously chose solicitors located in Maltby on the RBS solicitor panel. They are now charging me an additional sum for the legal aspects of the RBS mortgage. Is this an additional conveyancing fee set by RBS?

Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. The charge is not set by RBS but by your Maltby lawyer. Numerous firms on the RBS panel will levy ’dealing with mortgage’ fee and others do not.

Last month we had a mortgage agreed in principle with Kent Reliance. Maltby conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?

There is no definitive answer here. Have Kent Reliance done the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

I can not fathom if my mortgage offer requires a lease extension. I have called into my local Maltby bank branch on various occasions and was reassured it wasn't a problem and they will lend. My Maltby conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?

The solicitor must comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I completed on my house on 5 January and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Maltby said it will be concluded inside ten days. Are titles in Maltby uniquely lengthy to register?

As far as conveyancing in Maltby is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry communicate with any third persons or bodies. At present in the region of three quarters of submission are fully dealt with within 12 days but some can be subject to extensive hold-ups. Registration is effected after the new owner has moved in to the property thus 'speed' is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer can speak with the land registry and explain the circumstances.

I decided to have a survey carried out on a property in Maltby in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend not give a mortgage on a flying freehold house.

It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Maltby. Conveyancing will be smoother if you use a solicitor in Maltby especially if they are acquainted with such properties in Maltby.

Do you have any top tips for leasehold conveyancing in Maltby with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Maltby can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a lengthy process and slows down many a Maltby home move. Where a new share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing. Many landlords or managing agents in Maltby levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Maltby.

I acquired a basement flat in Maltby, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Maltby with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2081

With just 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.