We were just about to sign contracts for a semi detached house in Egremont. We encountered a snag. Our mortgage offer with Barnsley Building Society runs out on 17/3/2025 but the owners are suggesting a completion date of 19/3/2025. Can one extend the mortgage expiry date?
The best person to deal with your concern is your solicitors who should determine if he or she is corresponding with the mortgage company, owner’s lawyers, selling agents or conceivably all three given the history of your house move to date.
How can we know in advance if a Egremont conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Egremont getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Egremont building society branch on various occasions and was reassured it wasn't a problem and they would lend. My Egremont conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend in accordance with their specific requirements. I have no idea who is right.
The lawyer has to follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a house in Egremont. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Egremont conveyancer is on the Coventry BS conveyancing panel.
What can a local search inform me concerning the property we're purchasing in Egremont?
Egremont conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for example Xpress Legal The local search is essential in every Egremont conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search will supply information on, amongst other things, details on planning applications relevant to the premises (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.
five months have elapsed since my purchase conveyancing in Egremont concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Egremont with a loan from Lloyds TSB Bank. The developers refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my solicitor about this extras as it will put at risk my mortgage with the lender. 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.
My wife and I have recently appointed a conveyancing solicitor in Egremont. I I would like to check if they are listed on the lender's conveyancing panel. Can you or the bank confirm if they are on the panel?
You should contact your conveyancer to check if they are on the lender's approved list. Alternatively please call us and we can investigate and revert. If they are not on the bank panel we can certainly arrange a quality conveyancing solicitor in Egremont on the approved list for your mortgage company.