I am about to put a bid on a leasehold flat in Wheathampstead. The property agents tell me that it is usual for flats in Wheathampstead to have less than 75 years left on the lease. I am obtaining a mortgage with Chelsea Building Society. Is this going to be acceptable if the lease has Seventy One years left.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/11/2024 the requirements read as follows :

My partner and I are downsizing from our property in Wheathampstead and the buyers lawyers are claiming that there is a risk of it being built 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 purchasers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Wheathampstead. We have lived in Wheathampstead for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.

It sounds as though you may have a conveyancing solicitor currently acting for you. 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 health insurance to cover that same illness)

I have been on the look out for a flat up to £245,000 and found one close by in Wheathampstead I like with open areas and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Wheathampstead for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.

Due to sign contracts shortly on a ground floor flat in Wheathampstead. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Wheathampstead should include some of the following:

Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Setting out your legal entitlements in relation to the communal areas in the building.For example, does the lease include a right of way over an accessway or staircase? You would want to be sent a copy of the lease Whether the lease restricts you from renting out the property, or having a home office for business Does the lease require carpeting throughout thus preventing wood flooring?

I inherited a 1st floor flat in Wheathampstead, conveyancing having been completed 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Wheathampstead with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2091

With just 67 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus legals.

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 detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

Is planning permission needed to split a house into two flats in Wheathampstead? This has been carried out to a house opposite to my house in Wheathampstead and was ignorant of it happening until after the works were complete.

Planning Permission yes. Building Reg Approval yes.