We were just about to exchange contracts for a property in Harpenden. We encountered a snag. The mortgage offer with HSBC Bank expires on 16/2/2026 but the sellers are putting forward a completion date of 18/2/2026. Is it possible to prolong the loan offer?
The best person to deal with your issue is your solicitors who will hopefully assess if he or she is better off negotiating with the lender, seller’s representatives, property agents or possibly all three based on the circumstances your conveyancing as of today.
How does conveyancing in Harpenden differ for newly converted properties?
Most buyers of new build residence in Harpenden contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Harpenden tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Harpenden or who has acted in the same development.
Do I need to be wary by brokers that I am dealing with are recommending a factory type conveyancing firm as opposed to a local Harpenden conveyancing company?
As with lots of service providers, often suggestions from relatives can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may recommend conveyancers to use. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the discretion to appoint your preferred conveyancer. You need to be aware that many lenders have an approved list of conveyancers you are obliged to use for the mortgage aspect of your transaction.
My father has encouraged me to use his lawyers for conveyancing in Harpenden. Should I choose my own solicitor?
No doubt the ideal way to find a conveyancing solicitor is to seek recommendations from friends or relatives who have actually experience in using the conveyancer you're are thinking of instructing.
Looking forward to sign contracts shortly on a studio apartment in Harpenden. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Harpenden should include some of the following:
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What you can do if an adjoining owner breaches a clause of their lease? Does the lease prevent you from letting out the flat, or having a home office for business You should be sent a copy of the lease Who has the liability for maintaining the window frames What options are available to the landlord where you have violated the provisions of the lease?
I invested in buying a basement flat in Harpenden, conveyancing was carried out May 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Harpenden with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2082
With just 57 years unexpired the likely cost is going to range between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
The financial adviser has suggested using their lawyer for the conveyancing in Harpenden - Surely it’s easier to just instruct them?
This is not necessarily the case and you are entitled to opt for whichever lawyer you decide for your Harpenden conveyancing. A property lawyer suggested by an estate agent may not necessarily be the right property lawyer, they may recommend their own conveyancing firm who are based remotely. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.