I have just over seventy years remaining on my lease and require a lease extension for my flat in Timsbury. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?
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. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/11/2024 the requirements read as follows :
My wife and I are intent on selling our property in Timsbury and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing practice as opposed to a conveyancing solicitor in Timsbury. We have lived in Timsbury for 4 years we know that this is a non issue. Should we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build flat in Timsbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Timsbury
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Timsbury I like with open areas and station in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Timsbury for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
As co-executor for the will of my father I am disposing of a house in Swansea but reside in Timsbury. My conveyancer (approximately 250 miles awayhas requested that I sign a statutory declaration before completion. Could you suggest a conveyancing solicitor in Timsbury who can attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Timsbury based