We were just about to sign contracts for a ground floor flat in Plaistow. We encountered a snag. The loan offer with Barnsley Building Society expires on 26/11/2024 but the vendors are insisting on a completion date of 28/11/2024. Can one prolong the mortgage offer?
The best person to deal with your question is your lawyer who is in a position to calculate if they corresponding with the lender, owner’s solicitors, selling agents or possibly all three taking into account the history of your house move to date.
My wife and I have recently appointed a conveyancing solicitor in Plaistow. I I am struggling to find out whether they are on the Platform Home Loans Ltd approved list of lawyers. Could you advise?
The first thing to do is call your conveyancer and ask them if they can act for the lender. Alternatively you can call Platform Home Loans Ltd who may be able to help.
How can we know in advance if a Plaistow conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Plaistow obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Plaistow solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Plaistow postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Plaistow.
My sealed bid on a semi in Plaistow has been agreed to, but there is a chain. The vendors have put an offer on on an apartment, but it’s not been accepted yet, and have viewings of other flats booked. I have instructed a nearby conveyancing solicitor in Plaistow. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Plaistow conveyancing search costs, etc). The first thing to do is ensure that your lawyer is on the Bank of Ireland conveyancing panel. Concerning the next phase this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. In a rising market some purchasers will apply for a home loan with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with searches.
I have justfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Plaistow for a purchase of a leasehold flat 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Plaistow conveyancing specialists.
Just had an offer accepted on a new build apartment in Plaistow. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Plaistow
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one near me in Plaistow I like with a park and railway links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Plaistow suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.