We are a couple about to sign contracts for a semi detached house in Reynoldston. We encountered a problem. Our loan offer with Platform Home Loans Ltd expires on 6/10/2025 but the vendors are putting forward a completion date of 8/10/2025. Is it possible to extend the mortgage expiry date?
The best person to deal with your concern is your lawyer who is in a position to calculate if he or she is should be discussing with the lender, owner’s lawyers, selling agents or possibly all parties taking into account the history of your house move as of today.
My mortgage company has recommended a law firm on their panel based in Reynoldston but I would rather instruct a conveyancing lawyer in Reynoldston round the corner to me. Can you help?
Far from all Reynoldston conveyancing practitioners are approved and listed on all banks conveyancing panel. Do make the most of our find an approved solicitor tool to find a Reynoldston conveyancing solicitor on the on the mortgage company panel.
We previously chose solicitors with offices in Reynoldston on the Aldermore solicitor approved list. They are now charging me a supplemental amount for the legal aspects of the Aldermore mortgage. Is this a supplemental conveyancing fee set by Aldermore?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may levy a fee for this. The charge is not set by Aldermore but by your Reynoldston conveyancing practitioner. Some firms on the Aldermore panel will charge ’dealing with mortgage’ fee and others do not.
We are getting the release of further monies on our home loan from Kent Reliance as we intend to carry out a loft conversion to our property in Reynoldston. Are we obliged to appoint a high street Reynoldston solicitor on the Kent Reliance conveyancing panel to handle the paperwork?
Kent Reliance would not normally instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
My wife and I are spending time looking at apartments in Reynoldston and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with HSBC.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are obtaining a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Reynoldston I like with amenity areas and railway links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Reynoldston in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension 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 concerning this matter.
Having had my offer accepted I require leasehold conveyancing in Reynoldston. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Reynoldston - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a 1st floor flat in Reynoldston, conveyancing was carried out 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Reynoldston with a long lease are worth £202,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2081
With 56 years left to run the likely cost is going to be between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
Me and my partner are about to complete on the purchase a property in Reynoldston but as a consequence of wreckage from the recent storms I have agreed compensation from the current proprietors of £3k taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process but the lender will not agree to this. Why were they informed?
Any solicitor that is on the mortgage company conveyancing panel is required to inform the mortgage company of any amendments to the purchase price. If you were to refuse your property lawyer to report the price change to your lender then they would have no choice but to discontinue representing you and the lender.