We were just about to exchange contracts for a freehold house in Shefford. We encountered a snag. The mortgage offer with Nottingham Building Society runs out on 20/4/2021 but the owners are putting forward a completion date of 22/4/2021. Is it possible to extend the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will assess if he or she is better off negotiating with the bank, owner’s solicitors, selling agents or conceivably all three based on the circumstances your house move as of today.
Completed the sale of my flat in Shefford last July yet the purchaser is e-mailing every few hours to say her solicitor is waiting to hear from mylawyer. What should my lawyer have done following completion?
Following your house sale your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Where appropriate, your solicitor should also confirm that the home loan has been discharged to the purchasers conveyancers. There are no post completion procedures unique to conveyancing in Shefford.
Just had an offer accepted on a new build flat in Shefford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Shefford
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared.
I opted to have a survey carried out on a house in Shefford prior to instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders may not grant a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shefford. Conveyancing will be smoother if you use a solicitor in Shefford especially if they regularly deal with such properties in Shefford.
What are your top tips when it comes to choosing a Shefford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Shefford conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Shefford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
What volume of lease extensions has the firm carried out in Shefford in the last twenty four months? What are the costs for lease extension work?
Shefford Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
How much is the service charge and ground rent on the property? It would be prudent to discover if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Shefford. If you love the flatin Shefford but your dog can’t make the move with you then you will be faced hard choice. The prefered form of lease structure is if the freehold reversion is owned by the leaseholders. In this situation the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually employed where it is bigger than a house conversion, the managing agent employed by the leaseholders.
Do online conveyancing companies cover everything a local Shefford solicitor does or must I employ a solicitor for the final stages for my conveyancing in Shefford?
Where you instruct an online conveyancer they will cover all the things your Shefford conveyancer would cover.