We are a couple about to exchange contracts for a leasehold flat in Quorn. We encountered a snag. The loan offer with Bank of Ireland expires on 17/6/2024 but the owners are suggesting a completion date of 19/6/2024. Can one extend the mortgage expiry date?
The person best placed to deal with your question is your conveyancer who will calculate whether he or she is should be discussing with the mortgage broker, vendor’s solicitors, selling agents or possibly all three based on what has gone on in your house move as of today.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to appoint a Quorn based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers where you want the "fee-free" incentive. Call the lender to determine if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Quorn.
I am the sole beneficiary of my late father’s estate and I have everything in my name now, including the house in Quorn. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be regarded the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the lender as this requirement principally exists to capture the purchase and immediately sell or the wholesaling and assigning of properties.
I had an offer accepted on an apartment in Quorn on 1/3/2024, valuation was booked 2 days after, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Principality and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Principality conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
My offer on a house in Quorn has been agreed to, the owners do nevertheless have a tied purchase. The sellers have offered on a property, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Quorn. What do I do now? When should I get the mortgage application with Nottingham started?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Quorn conveyancing search fees, etc). The first thing to do is ensure that your lawyer is on the Nottingham conveyancing panel. As to the subsequent steps this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a buoyant market many home buyers would apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with the conveyancing in Quorn.
My wife and I are planning on selling our house in Quorn and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers are using an online conveyancing practice rather than a conveyancing solicitor in Quorn. Having lived in Quorn for three years we know that this is a non issue. Do we contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I have todaybeen informed that Action Conveyancing have closed. They conducted my conveyancing in Quorn for a purchase of a leasehold apartment 18 months ago. How can I check that the property is in my name in the name of the previous owner?
The quickest way to check if the property is registered to you, 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 Quorn conveyancing specialists.
What advice can you give us when it comes to finding a Quorn conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Quorn conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Quorn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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What volume of lease extensions has the firm carried out in Quorn in the last 12 months?
Leasehold Conveyancing in Quorn - Sample of Queries Prior to buying
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How is the lease structured? What restrictions are there in the Quorn Lease? Does the lease have more than 85 years left?