We were just about to exchange contracts for a leasehold flat in Parsons Green. We have hit a stumbling block. The mortgage offer with Virgin Money expires on 7/9/2026 but the owners are suggesting a completion date of 9/9/2026. Can one extend the loan expiry date?
The best person to deal with your issue is your lawyer who is in a position to calculate whether he or she is better off negotiating with the mortgage broker, owner’s solicitors, estate agents or indeed all three taking into account the circumstances your house move to date.
Do all mortgage companies provide you with an approved list of Parsons Green conveyancing solicitors? How do you know who is on the TSB conveyancing panel?
Parsons Green conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Parsons Green with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My friend advised me that where I am buying in Parsons Green I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Parsons Green conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Parsons Green around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Parsons Green Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Parsons Green Education with plans and statistics, Local Amenities and other useful data about Parsons Green.
I am buying my first flat in Parsons Green benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not inform my lawyer about the extras as it could impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 have just appointed agents to market my basement flat in Parsons Green. Conveyancing is yet to be initiated, but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as you normally would as all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a basement flat in Parsons Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the price payable.
An example of a Freehold Enfranchisement case for a Parsons Green flat is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case related to 2 flats. The remaining number of years on the lease was 93 years and 162 years.