We are a couple about to exchange contracts for a property in Quorn. We encountered a snag. The loan offer with Clydesdale expires on 16/9/2024 but the vendors are insisting on a completion date of 18/9/2024. Is it possible to extend the mortgage expiry date?
The person best placed to address this question is your lawyer who should assess if he or she is corresponding with the bank, seller’s representatives, property agents or possibly all parties given what has gone on in your house move to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Quorn? Is this really necessary?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you are required to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to hand over ID verification documents, your conveyancer can not take you on as a client.
The deeds to my property can not be found. The conveyancers who dealt with the conveyancing in Quorn 4 years ago have long since closed. What are my options?
As long as the title is registered the details of your proprietorship will be recorded by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your property and secure up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for a small fee.
How does conveyancing in Quorn differ for new build properties?
Most buyers of new build premises in Quorn approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Quorn tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Quorn or who has acted in the same development.
I decided to have a survey completed on a property in Quorn in advance of retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies may not grant a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Quorn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Quorn to see if the conveyancing will be more expensive.
Am I better off to choose a Quorn conveyancing solicitor who is local to the property I am hoping to buy? An old friend can carry out the legal work however his firm is located over three hundred miles drive away.
The benefit of a high street Quorn conveyancing practice is that you can attend the office to execute documents, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that must trump using an unknown Quorn conveyancing lawyer solely due to them being round the corner.