We were just about to sign contracts for a property in Filton. We encountered a problem. The loan offer with Barnsley Building Society runs out on 5/3/2025 but the owners are insisting on a completion date of 7/3/2025. Can one prolong the loan expiry date?
The person best placed to address this question is your conveyancer who will hopefully calculate if he or she is better off negotiating with the mortgage company, owner’s conveyancers, estate agents or indeed all parties taking into account the circumstances your transaction as of today.
Why do I have to pay up front when it comes to conveyancing in Filton?
Where you are retaining lawyers for conveyancing in Filton your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. Generally this is called for to cover the fees of the Local Authority Search. If any down payment is payable against the sale price then this should be asked for shortly before exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
My husband and I intend to purchase a newbuild apartment in Filton with a homeloan from Nationwide Building Society.We have a Filton conveyancing practitioner but Nationwide Building Society advised that his firm is not listed on their "panel". We have to appoint a Nationwide Building Society panel firm or retain our local solicitor and fork out for a Nationwide Building Society panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Nationwide Building Society use our lawyer?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that lawyers must be on the Nationwide Building Society conveyancing panel. in the past, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Nationwide Building Society
We are selling our home in Filton and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Filton conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing firm rather than a conveyancing solicitor in Filton. We have lived in Filton for many years we know of no issue. Do we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am attracted to a two maisonettes in Filton which have about forty five years left on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area.
I invested in buying a split level flat in Filton, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Filton with a long lease are worth £201,000. The ground rent is £45 per annum. The lease ends on 21st October 2090
You have 65 years left to run we estimate the premium for your lease extension to be between £13,300 and £15,400 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Whilst your website is a good idea there are many lawyers listed near Filton being on the bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for our mortgage company?
We do not recommend specific Filton firms as the right Filton conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Filton knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..