I have 71 years left on my lease and need a lease extension for my apartment in Treorchy. Conveyancing solicitors on the Bank of Ireland 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. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/2/2025 the requirements read as follows :
When it comes to lenders such as Bank of Ireland, do Treorchy conveyancers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I recently had an offer agreed on a house in Treorchy. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £200. Not long after, the solicitor called me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase apartment in Treorchy. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Treorchy lawyer is on the Nationwide conveyancing panel.
I need some fast conveyancing in Treorchy as I have an ultimatum to sign on the dotted line within 2 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not taking a mortgage you have the choice not to do searches although no law firm would suggest that you don't. With lots of history conveyancing in Treorchy the following are instances of issues that can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Treorchy is where the house is located. Can you shed any light on this issue?
Flying freeholds in Treorchy are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Treorchy you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Treorchy may determine 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 am a negotiator for a busy estate agent office in Treorchy where we see a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Treorchy conveyancing solicitors. Could you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
I bought a ground floor flat in Treorchy, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Treorchy with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2102
With just 77 years unexpired we estimate the premium for your lease extension to range between £7,600 and £8,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.