We are about to exchange contracts for a garden flat in Earls Barton. We encountered a problem. The mortgage offer with Norwich and Peterborough Building Society runs out on 24/12/2025 but the owners are insisting on a completion date of 30/12/2025. Can one extend the mortgage offer?
The person best placed to address this question is your conveyancer who will hopefully assess whether they corresponding with the mortgage company, owner’s conveyancers, property agents or possibly all parties taking into account the circumstances your house move as of today.
Why do I have to pay up front for my conveyancing in Earls Barton?
Where you are retaining lawyers for conveyancing in Earls Barton your solicitor will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the purchase price then this should be needed shortly before contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Earls Barton. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then UBS will insist on your using a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
I have been on the look out for a ground for flat up to £235,500 and found one near me in Earls Barton I like with open areas and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Earls Barton in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
We're new to the buying process - agreed a price, but the estate agent has warned us that the owners will only issue a contract if we instruct their chosen lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Earls Barton
It is unlikely the owners are driving this. Should the owner desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your preferred Earls Barton conveyancing solicitors - as opposed tothe ones that will give the negotiator at the agency a referral fee or meet his conveyancing figures demanded by HQ.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325,000 maisonette in Earls Barton next Wednesday. The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Earls Barton?
Earls Barton conveyancing on leasehold apartments normally involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I own a 1 bedroom flat in Earls Barton, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Earls Barton with a long lease are worth £211,000. The ground rent is £50 per annum. The lease comes to an end on 21st October 2093
With 68 years unexpired the likely cost is going to be between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.