We are a couple about to sign contracts for a freehold house in Edgwarebury. We encountered a snag. Our loan offer with Birmingham Midshires expires on 14/5/2026 but the vendors are insisting on a completion date of 18/5/2026. Can one prolong the loan expiry date?
The person best placed to deal with your concern is your conveyancer who should determine if he or she is better off negotiating with the bank, owner’s representatives, estate agents or conceivably all three taking into account what has gone on in your conveyancing as of today.
Is there a reason why leasehold purchase conveyancing in Edgwarebury costs more?
Edgwarebury leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Do I need to visit the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Edgwarebury so that I can pop in to their offices when needed.
Whereas this was necessary 15 years ago, most banks no longer need their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to hand over ID documents and there are still manifest benefits to using a local solicitor, in your situation a conveyancing solicitor in Edgwarebury.
is it true that all Edgwarebury conveyancing solicitors on the Yorkshire BS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the SRA. The majority of banks do permit licenced conveyancers on their panel and in that case the organisation would be regulated by the CLC.
We had appointed solicitors located in Edgwarebury on the Kent Reliance solicitor panel. They are now charging me a further fee for handling the Kent Reliance mortgage. Is this a supplemental conveyancing fee set by Kent Reliance?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your conveyancer is entitled to charge a fee for this. This charge is not dictated by Kent Reliance but by your Edgwarebury property lawyer. Numerous firms on the Kent Reliance panel will charge an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
After what seems like an age I have had an offer on a flat in Edgwarebury accepted, but there is a chain. The owners have put an offer on a flat, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Edgwarebury. What should be my next step? When should I get the mortgage application with Coventry BS going?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Edgwarebury conveyancing search charges, etc). The first thing to do is ensure that your conveyancer is on the Coventry BS approved list. Regarding the subsequent stages this very much depends on the circumstances of your case, attraction to this property and on the state of the market. During a buoyant market some buyers will apply for the mortgage with Coventry BS and arrange for the valuation and only if it comes back ok would they request their solicitor to press on with the conveyancing in Edgwarebury.
Me and my brother purchased a terraced Edwardian house in Edgwarebury. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Edgwarebury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing lawyer who carried out the work.
I'm purchasing my first flat in Edgwarebury benefiting from help to buy. The sellers would not move on the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not inform my solicitor about the extras as it would adversely affect my loan with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.