We are about to exchange contracts for a garden flat in Covent Garden. We have hit a stumbling block. Our mortgage offer with Coventry Building Society runs out on 16/12/2019 but the sellers are insisting on a completion date of 18/12/2019. Is it possible to prolong the loan expiry date?
The best person to deal with your concern is your solicitors who should assess whether he or she is corresponding with the lender, owner’s solicitors, property agents or indeed all three given the history of your conveyancing to date.
Can your site be used to recommend a Conveyancing solicitor in Covent Garden even where I’m not purchasing or disposing of a house, for example if I want to buy a shop in Covent Garden with a mortgage from The Royal Bank of Scotland?
The service is predominantly there to locate residential conveyancing solicitors in Covent Garden but we have recorded towards the end of this page a few Covent Garden commercial conveyancing firms. You should make contact with the firm directly to check if they are also authorised to represent The Royal Bank of Scotland
Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Covent Garden so that I can attend their offices when needed.
Whereas this was necessary ten years ago, almost all banks no longer oblige their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide identification documents and there are still distinct benefits to instructing a locally based practitioner, in your situation a conveyancing solicitor in Covent Garden.
What does a local search tell me regarding the house my wife and I purchasing in Covent Garden?
Covent Garden conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search plays an important role in many a Covent Garden conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the property (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 13 topic headings.
How does conveyancing in Covent Garden differ for new build properties?
Most buyers of new build residence in Covent Garden come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Covent Garden tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Covent Garden or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Covent Garden is the location of the property. Can you shed any light on this issue?
Flying freeholds in Covent Garden are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Covent Garden you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Covent Garden may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.