We were just about to exchange contracts for a freehold house in Nunthorpe. We encountered a snag. Our loan offer with Barclays runs out on 2/7/2024 but the sellers are insisting on a completion date of 4/7/2024. Is it possible to extend the mortgage offer?
The person best placed to deal with your question is your lawyer who will hopefully calculate whether he or she is corresponding with the mortgage company, owner’s lawyers, estate agents or indeed all parties taking into account what has gone on in your house move to date.
When can the exchange of contracts occur in residential conveyancing in Nunthorpe and am I required to be at the lawyers office?
Where you are round the corner to our conveyancing solicitors in Nunthorpe you are invited in to sign documents. However, the lender approved solicitors we work with provide a national conveyancing service and give as equally diligent and professional a job for you when dealing with you digitally. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Nunthorpe)to be in the office available at the end of the phone to exchange contracts.
I am the single beneficiary of my late mum's estate and I have everything in my name now, including the house in Nunthorpe. Conveyancing formalities meant that the Land Registry date was in April. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in April. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view lenders take of it, depend on the lender as this provision is principally there to pick up on subsales or the quick reselling of property.
I'm in the throws of looking at apartments in Nunthorpe and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Barclays.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are taking out a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Nunthorpe conveyancing practitioner on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I have been on the look out for a flat up to £235,500 and identified one round the corner in Nunthorpe I like with a park and transport links in the vicinity, however it only has 49 years on the lease. There is not much else in Nunthorpe for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I'm converting the mortgage on my primary house to a buy to let loan with HSBC Bank and intend to use the remaining equity towards a second property. The neighborhood we are talking about is Nunthorpe. Will your solicitors be able to act for the two mortgage companies and link together the conveyances?
Make use of our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. Assuming that they are the solicitor should be able to tie up the two transactions but you should have a chat with you lawyer and communicate your expectations and requirements.
Been looking for a conveyancer for leasehold sale conveyancing in Nunthorpe. I'm selling, simple no mortgage to discharge, no rush, currently empty. Got a quote from a conveyancer for a thousand pounds including VAT which is a little steep given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Nunthorpe?
As it’s a sale only, £425 + VAT would be about the cheapest for sale conveyancing in Nunthorpe.