We are a couple about to exchange contracts for a freehold house in Rhosesmor. We have hit a snag. The mortgage offer with Birmingham Midshires runs out on 27/6/2024 but the owners are suggesting a completion date of 1/7/2024. Is it possible to prolong the mortgage offer?
The best person to address this question is your lawyer who is in a position to calculate if he or she is corresponding with the mortgage broker, owner’s representatives, selling agents or indeed all three given the history of your transaction as of today.
We note that you have a post code search directory identifying law firms on the Co-operative conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Rhosesmor?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Rhosesmor.
What happens if my lawyer’s firm is expelled from the Barclays Conveyancing panel ahead of completing my conveyancing in Rhosesmor?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I need some fast conveyancing in Rhosesmor as I am under an ultimatum to sign on the dotted line in less than 4 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you are at liberty not to do searches although no lawyer would recommend that you don't. With plenty of history conveyancing in Rhosesmor the following are examples of what can be revealed and therefore impact future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Rhosesmor I like with amenity areas and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Rhosesmor for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. 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. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
Why is it not possible to complete my conveyancing in Rhosesmor on a public holiday?
Because on completion the purchase price needs to be transferred electronically between the banks of the buyer and seller's solicitor and currently this can only occur on a business day. So you can't complete on a saturday or sunday either.