We were just about to sign contracts for a garden flat in Marks Gate. We have hit a problem. Our mortgage offer with Barclays runs out on 27/1/2021 but the vendors are insisting on a completion date of 29/1/2021. Can one extend the mortgage expiry date?
The best person to address this issue is your conveyancer who is in a position to determine if he or she is corresponding with the mortgage company, seller’s conveyancers, property agents or conceivably all three given what has gone on in your house move as of today.
We're in Marks Gate, FTBs purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should my lawyer be raising enquiries concerning flooding during the conveyancing in Marks Gate.
Flooding is a growing risk for conveyancers carrying out conveyancing in Marks Gate. Some people will purchase a property in Marks Gate, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their lawyers which should figure out the risks in Marks Gate. The conventional set of property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the owner, then a purchaser could commence a compensation claim stemming from an inaccurate reply. The buyer’s lawyers should also order an enviro search. This will reveal whether there is any known flood risk. If so, additional inquiries should be conducted.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Marks Gate is where the house is located. Is there any advice you can impart?
Flying freeholds in Marks Gate are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Marks Gate you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Marks Gate may determine 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 residence.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Marks Gate and how can you help?
The 1954 Act affords a safeguard to commercial tenants, granting the legal entitlement to apply to court for a renewal lease and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Marks Gate is one of our many areas of the UK in which our lawyers have offices
We are looking to acquire a repression property in Marks Gate and the bank selling would like to complete within a month. Do conveyancing practitioners meet that timeframe? Am I best advised to select a high street Marks Gate firm or an online organisation that professes to complete quickly?
Visit your Marks Gate shopping parade. Pop in to a couple of companies and request to see a conveyancing solicitor for a quote. Explain your situation and get a commitment on deadlines. Select the one that seems most trustworthy. You need to use a conveyancer on the list of conveyancers acceptable to your lender.