We were just about to exchange contracts for a leasehold flat in Mossley. We have hit a problem. Our mortgage offer with Alliance & Leicester runs out on 10/6/2021 but the owners are putting forward a completion date of 14/6/2021. Can one prolong the loan offer?
The best person to deal with your question is your conveyancer who will hopefully determine whether he or she is better off negotiating with the mortgage company, seller’s representatives, property agents or conceivably all parties based on the circumstances your conveyancing to date.
I am planning to acquire a property and require a conveyancing solicitor in Mossley who is on the Birmingham Midshires conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Birmingham Midshires in certain locations such as Mossley. We dont recommend any particular firm.
What does a local search inform me regarding the house my wife and I buying in Mossley?
Mossley conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search plays an important role in most Mossley conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I'm purchasing a new build house in Mossley with a loan from Aldermore. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not inform my conveyancer about the extras as it will jeopardize my loan with the bank. 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.
There are only 68 years remaining on my flat in Mossley. I am keen to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the freeholder. In some cases an enquiry agent would be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Mossley.
Leasehold Conveyancing in Mossley - A selection of Queries before buying
Its a good idea to discover as much as you can concerning the company managing the block as they can either make your living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the upkeep of the common parts. Don't be shy to ask prospective neighbours what they think of their management. Finally, be sure you understand the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money. Please note that where the lease has no more than 80 years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Mossleylease extensions you would be required to have owned the property for two years in order to be legally able to exercise a lease extension. It is important to be aware whether redecorating or some other major work is coming up to be shared amongst the tenants and will dramatically impact the level of the maintenance charges or necessitate a one time payment.
My husband and I have agreed a price on a Mossley house left to us 5 years ago in 2010. I have over 12 years conveyancing knowledge and, now retired, see no reason not to carry out my own legal work. The buyer's property lawyer has informed me that their Lenders will not allow us to do our own conveyancing insisting the funds to be transferred to a solicitor's bank account.
Lending requirements to conveyancing practitioners from all mainstream lenders state that If the vendor is not legally represented the purchaser’s lawyers should check whether the bank needs to be notified so that a decision can be reached as to whether they are prepared to move forward.