We are about to sign contracts for a property in Hurworth. We have hit a stumbling block. Our loan offer with Birmingham Midshires expires on 19/12/2024 but the vendors are putting forward a completion date of 23/12/2024. Is it possible to extend the loan offer?
The person best placed to address this question is your conveyancer who should determine if they better off negotiating with the lender, vendor’s solicitors, property agents or indeed all parties given what has happend in your conveyancing as of today.
I am purchasing a property in Hurworth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that your lender is Bank of Ireland your lawyer must check the formal instructions set out in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook includes minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Bank of Ireland where a lease fails to comply with these specifications. The conditions relate to the installation of panels on properties countrywide and is not limited to Hurworth.
My offer was accepted on an apartment in Hurworth on 4/9/2024, valuation was booked 2 days after, all came back fine. Property lawyer retained, so all that was missing was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our offer on a semi in Hurworth has been agreed to, but there is a chain. The sellers have put an offer on a property, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have selected a local conveyancing solicitor in Hurworth. What should be my next step? At what stage should I apply for the mortgage with Barclays?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Hurworth conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Barclays approved list. Concerning the next phase this very much depends on the uniqueness of your case, desire for the property and on the state of the market. In a buoyant market the majority of buyers will apply for the mortgage with Barclays and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to press on with searches.
I'm buying a new build house in Hurworth with a loan from Yorkshire Building Society. The developers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not inform my conveyancer about the side-deal as it would adversely affect my loan with Yorkshire Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Hurworth is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hurworth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hurworth you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hurworth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am using a search engine for the term cheap conveyancing in Hurworth it shows results of numerous property lawyersin the vicinity. With so much choice what is the best way to find the right solicitor for the sale of my house?
The preferential method of choosing the right conveyancer is via trusted testimonial, so seek the guidance of colleagues and those you trust who have bought a property in Hurworth or the reputable estate agent or mortgage broker. Fees for conveyancing in Hurworth vary, so it's sensible to obtain at least three quotes from different law firms. Be sure to secure confirmation that the fees are fixed.
I want to rent out my leasehold apartment in Hurworth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Hurworth do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I acquired a 1 bedroom flat in Hurworth, conveyancing having been completed 6 years ago. How much will my lease extension cost? Similar properties in Hurworth with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2091
You have 67 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. 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. Please do not take any other action based on this information before seeking the advice of a professional.