We are about to exchange contracts for a freehold house in Hathern. We encountered a stumbling block. The loan offer with Skipton Building Society runs out on 21/6/2024 but the vendors are putting forward a completion date of 25/6/2024. Is it possible to prolong the mortgage offer?
The person best placed to deal with your question is your solicitors who should assess whether they should be discussing with the bank, owner’s conveyancers, estate agents or possibly all three based on the circumstances your transaction to date.
My brother-in-law has suggested I instruct a conveyancing solicitor in Hathern. I I am struggling to find out if they are accepted on the The Mortgage Works conveyancing panel. Could you help?
The first thing to do is phone your solicitor and ask them whether they are on the lender panel. Otherwise you should call The Mortgage Works who may be able to confirm.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Hathern I like with a park and transport links in the vicinity, however it only has 61 remaining years left on the lease. I can't really find anything else in Hathern suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Is it possible to transfer to a new conveyancer as I have to retain one who is on the Coventry Building Society conveyancing list. I had appointed a high street conveyancing solicitor in Hathern round the corner but the firm is not approved by Coventry Building Society
It would be our pleasure to help you select a conveyancing solicitor in Hathern on the Coventry Building Society panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Hathern. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Hathern.
What are your top tips when it comes to choosing a Hathern conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Hathern conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Hathern conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
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What volume of lease extensions have they conducted in Hathern in the last twenty four months? If they are not ALEP accredited then why not?
I bought a studio flat in Hathern, 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 Hathern with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2100
With just 76 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
How varied are the property law services that Hathern conveyancing firms undertake?
Most Hathern conveyancing practices manage to supply a number of legal advice to home and land proprietors, vendors, buyers, freeholders and leaseholders such as:
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House sale conveyancing in Hathern or beyond
House purchase conveyancing in Hathern and beyond
Islamic Compliant Finance including sales, purchases and refinances Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme All property dispute issues including rights of way and boundary disputes Property division, as a result of divorce or separation