We are about to sign contracts for a leasehold flat in Byfleet. We encountered a problem. Our loan offer with Chelsea Building Society runs out on 27/6/2025 but the vendors are suggesting a completion date of 1/7/2025. Is it possible to extend the loan offer?
The person best placed to address this issue is your solicitors who should calculate whether he or she is corresponding with the bank, vendor’s conveyancers, property agents or conceivably all three based on the circumstances your transaction to date.
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a garden flat in Byfleet. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Byfleet?
On the day of completion you will not be required to go to the conveyancers office in Byfleet. Your solicitors will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you should be invited to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
We had selected conveyancing lawyers based in Byfleet on the UBS solicitor panel. They are now charging me a supplemental fee for handling the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may charge a fee for this. This charge is not set by UBS but by your Byfleet lawyer. Plenty of firms on the UBS panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
Virgin Money have agreed my home loan in principle, my offer on a house in Byfleet has been accepted, now what?
Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Telephone Virgin Money or your financial adviser and finalise any appropriate forms. Virgin Money will instruct a valuer who will get in touch with the selling agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Virgin Money will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Byfleet.
A friend advised me that if I am purchasing in Byfleet I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Byfleet conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Byfleet around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Byfleet Education with maps and statistics, Local Amenities and other useful data regarding Byfleet.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Byfleet I like with amenity areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Byfleet suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years may be problematic. Discount the offer by the expected 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 start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I was pointed in your direction by numerous estate agents in Byfleet to get a quote from a solicitor on your site. Is there a financial incentive for Estate Agents to offer your site rather than another?
We refuse to give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
What is the reason for new build conveyancing in Byfleet being more expensive?
Purchasing a new build home is completely distinct from the standard house buying conveyancing in Byfleet. For a start sellers ordinarily require contracts to exchange inside a short timeframe, so there is a a great deal of pressure on your conveyancing practitioner to make sure all is in order. In addition new build premises often necessitate examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank requirements are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.