We are a couple about to exchange contracts for a garden flat in Dronfield. We have hit a problem. The loan offer with TSB runs out on 7/6/2024 but the vendors are insisting on a completion date of 11/6/2024. Is it possible to prolong the mortgage expiry date?
The best person to address this issue is your conveyancer who should calculate whether he or she is better off negotiating with the mortgage broker, vendor’s lawyers, property agents or conceivably all parties given the circumstances your house move as of today.
Is there a reason why leasehold purchase conveyancing in Dronfield is more expensive?
The conveyancing costs for a leasehold premises in Dronfield is frequently higher as compared to a freehold residence. This is because there is an amount of additional time required in liaising with the freeholder and managing agents to collate the evidence concerning whether the rent and service fee have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the building.
How does conveyancing in Dronfield differ for new build properties?
Most buyers of new build premises in Dronfield approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Dronfield tend to purchase the land, 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 Dronfield or who has acted in the same development.
Are there any apps to help locate a Dronfield solicitor on the Skipton Building Society conveyancing panel? I have wheels and am happy to travel upto 25kilometers to meet the solicitor.
You can use the search on this page. Please pick a lender and your location and you will see a number of Dronfield conveyancing lawyers locally. We have listed some Dronfield conveyancing firms at the bottom of this page and you can call them to check whether they are on the Skipton Building Society approved list
What are your top tips when it comes to choosing a Dronfield conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Dronfield conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Dronfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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Can they put you in touch with clients in Dronfield who can give a testimonial? How many lease extensions has the firm conducted in Dronfield in the last year?
Dronfield Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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Is the freehold reversion owned collectively by the tenants? Are any of leasehold owners in arrears of their service charge payments?
Should I cancel my mortgage payments with TSB once a completion date for my home sale in Dronfield has been agreed?
No, you should maintain paying any mortgage sums to TSB until the mortgage is discharged on completion as part of your Dronfield conveyancing.