We were just about to sign contracts for a garden flat in Sandown. We encountered a stumbling block. Our loan offer with Virgin Money expires on 1/7/2024 but the owners are insisting on a completion date of 3/7/2024. Can one extend the loan offer?
The person best placed to deal with your concern is your solicitors who will hopefully calculate whether he or she is should be discussing with the lender, vendor’s conveyancers, selling agents or possibly all parties taking into account the history of your house move as of today.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Sandown. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/5/2024, the requirements read as follows :
What does a local search tell me concerning the property I am buying in Sandown?
Sandown conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search plays a central part in many a Sandown conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
How does conveyancing in Sandown differ for newly converted properties?
Most buyers of new build residence in Sandown approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Sandown usually buy the land, 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 used to new build conveyancing in Sandown or who has acted in the same development.
Is it best to appoint a Sandown conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can carry out the legal formalities however her office is over three hundred miles drive away.
The benefit of a high street Sandown conveyancing practice is that you can attend the office to execute documents, present your identification documents and apply pressure on them where appropriate. Having local Sandown know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were content that must surpass using an unknown Sandown conveyancing lawyer solely due to them being based in the area.
If instructed can a conveyancer remove a person from the title of my property in Sandown ?
Removing or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a conveyancer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer