We were just about to sign contracts for a semi detached house in Bow. We encountered a stumbling block. The loan offer with Virgin Money runs out on 10/11/2025 but the vendors are putting forward a completion date of 12/11/2025. Can one prolong the mortgage expiry date?
The best person to deal with your concern is your lawyer who will calculate whether they corresponding with the mortgage company, vendor’s representatives, selling agents or indeed all parties based on what has happend in your conveyancing as of today.
I purchased a freehold residence in Bow yet charged rent, why is this and what is this?
It is rare for properties in Bow and has limited impact for conveyancing in Bow but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
What will a local search inform me concerning the house we're buying in Bow?
Bow conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example PSG The local search is essential in every Bow conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I am buying a new build house in Bow with the aid of help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my lawyer about the extras as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In my capacity as executor for the will of my grandfather I am selling a property in Cardiff but reside in Bow. My solicitor (based 250 kilometers from mehas requested that I execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Bow who can attest this legal document for me?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are based in Bow
My friend mentioned that when choosing a conveyancing lawyer they need approved by your lender. I am first time buyer with but I have an offer in principle via Birmingham Midhshires and I already have a family conveyancing lawyer in Bow lined up. Does Virgin Money need an approved conveyancer to be selected? If so, where do I find that list so I can pick a conveyancing solicitor in Bow?
You need to use a solicitor that is on the Virgin Money panel. The simplest thing to do is ring your chosen Bow conveyancing lawyer to check if they are on the Virgin Money panel. If they are not approved you have a number of choices available to you here:
- Proceed with your existing Bow conveyancing practitioner but Virgin Money will undoubtedly instruct a conveyancing practitioner from their approved list. The net impact is additional charges together with likely interruption.
- Choose a fresh property lawyer to conduct the conveyancing, ensuring that they are on the Virgin Money conveyancing panel.
- Appeal to your lawyer to attempt to join the lender panel.