We were just about to sign contracts for a property in Bishops Lydeard. We have hit a problem. Our mortgage offer with runs out on but the sellers are insisting on a completion date of . Can one extend the loan expiry date?

The person best placed to deal with your question is your lawyer who will determine if they better off negotiating with the lender, seller’s solicitors, property agents or indeed all three based on the circumstances your transaction as of today.

Why do I have to pay up front for my conveyancing in Bishops Lydeard?

If you are buying a property in Bishops Lydeard your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the total price then this should be needed shortly in advance of contracts are exchanged. The closing balance that is due will be payable shortly before completion.

I am looking for a flat up to £235,500 and identified one near me in Bishops Lydeard I like with open areas and station in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Bishops Lydeard in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a mortgage the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

I only have Fifty years remaining on my flat in Bishops Lydeard. I am keen to extend my lease but my freeholder is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be helpful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Bishops Lydeard.

I bought a studio flat in Bishops Lydeard, conveyancing was carried out 1995. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bishops Lydeard with a long lease are worth £165,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 50

With 50 years unexpired the likely cost is going to range between £36,100 and £41,800 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

I have recently had an offer accepted on an apartment in Bishops Lydeard and the estate agent that we are using suggested his . He quoted £1000 plus VAT and 3rd party costs. Does this sound like a good deal?

You should not rely on one quote. You should seek like-for-like quotes for your conveyancing in Bishops Lydeard. Then pick one that you trust and crucially, is on the approved panel of the lender that you have applied for a mortgage from.