We are about to exchange contracts for a garden flat in Filton. We have hit a stumbling block. Our mortgage offer with Lloyds TSB Bank runs out on 17/5/2023 but the owners are suggesting a completion date of 19/5/2023. Is it possible to prolong the loan offer?
The person best placed to address this concern is your lawyer who will assess if they should be discussing with the mortgage broker, vendor’s conveyancers, property agents or indeed all parties given the history of your transaction to date.
Are the BSA intent on creating a online directory to to identify law firms on the Earl Shilton BS conveyancing panel for instance in Filton?
We have not been informed any intention on the part of the BSA to promote such a register.
I purchased a renovated Georgian property in Filton. Conveyancing solicitor represented me and Santander. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You should review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Filton 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 mortgage companies. You can also question the position with your conveyancing lawyer who completed the work.
About to purchase a new build flat in Filton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Filton
There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Due to the guidance of my in-laws I had a survey completed on a house in Filton in advance of appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may refuse to grant a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Filton. Conveyancing will be smoother if you use a solicitor in Filton especially if they regularly deal with such properties in Filton.
I am just shy of a 10% deposit on my flat purchase in Filton , but I still want to go ahead. Do I have options?
You can accept a lower deposit. Many sellers will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second