We were just about to exchange contracts for a semi detached house in Burntwood. We have hit a problem. Our mortgage offer with Godiva Mortgages Ltd runs out on 11/8/2025 but the vendors are insisting on a completion date of 13/8/2025. Is it possible to prolong the mortgage expiry date?
The best person to deal with your issue is your solicitors who should calculate whether he or she is better off negotiating with the mortgage company, vendor’s conveyancers, estate agents or possibly all three taking into account the circumstances your house move to date.
We are getting the release of further monies on our home loan from RBS as we intend to conduct a loft conversion to our home in Burntwood. Do we need to appoint a nearby Burntwood solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS would not normally instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I have paid off my mortgage with HSBC. I assume I don't need a Burntwood conveyancing practitioner on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
The mortgage over my property is with RBS for my property in Burntwood. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval before renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. You need not do this via a RBS conveyancing panel lawyer.
Are there restrictive covenants that are commonly picked up during conveyancing in Burntwood?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Burntwood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Burntwood I like with open areas and transport links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Burntwood for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the amount the 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 can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I was recommended by a number of property agents in Burntwood to choose a property lawyer on your site. What’s the financial advantage for Estate Agents to recommend your lawyers rather than a competitor’s?
We don’t give any financial incentive for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for purchase conveyancing in Burntwood. I happened to discover a web site which looks to be the ideal offering If it is possible to get all formalities done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?