We were just about to exchange contracts for a semi detached house in Little Burstead. We encountered a stumbling block. Our mortgage offer with Bank of Scotland runs out on 8/12/2021 but the owners are putting forward a completion date of 10/12/2021. Can one extend the loan offer?
The person best placed to address this issue is your solicitors who should assess if they better off negotiating with the bank, vendor’s representatives, estate agents or conceivably all three based on what has gone on in your house move to date.
Having sold my house in Little Burstead last February but our buyer keeps whats apping every few hours to say his lawyer is waiting to hear from myconveyancer. What are the post completion sale legalities now that I have sold?
Following your disposal your conveyancer is duty bound to forward the transfer documentation and all of the paperwork to the purchaser's solicitors. Where appropriate, your conveyancer must also send confirmation that the mortgage has been discharged to the buyers lawyers. There is unlikely to be post completion tasks peculiar conveyancing in Little Burstead.
How does conveyancing in Little Burstead differ for new build properties?
Most buyers of new build premises in Little Burstead approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Little Burstead typically acquire the real estate, 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 Little Burstead or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Little Burstead I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Little Burstead for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
As co-executor for the will of my uncle I am disposing of a residence in Neath but live in Little Burstead. My conveyancer (approximately 300 miles from merequires that I sign a stat dec prior to completion. Could you suggest a conveyancing solicitor in Little Burstead who can witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are based in Little Burstead
I have read on numerous online forums that when selecting a conveyancing solicitors they must be approved by your bank. I am first time buyer with but I have an offer in principle via Nat West Bank and I already have a local conveyancing solicitor in Little Burstead at the ready. Can Birmingham Midhshires require an approved lawyer to be selected? Does a directory of panel conveyancers even exist for my conveyancing in Little Burstead?
You should use a solicitor that is on the Birmingham Midhshires panel. The simplest thing to do is call your preferred Little Burstead conveyancing solicitor to check if they are on the Birmingham Midhshires panel. If they are not approved you have numerous options available to you here:
- Carry on with your preferred Little Burstead conveyancer but Birmingham Midhshires will undoubtedly retain a lawyer on their conveyancing panel. This will result in additional cost together with likely interruption.
- Choose a new property lawyer to act in the purchase, making sure they are on the Birmingham Midhshires conveyancing panel.
- Convince your solicitor to do everything within their powers to get accepted on the Birmingham Midhshires panel of solicitors.