We are about to exchange contracts for a property in Sherwood. We have hit a problem. The loan offer with Alliance & Leicester runs out on 19/9/2024 but the sellers are insisting on a completion date of 23/9/2024. Is it possible to extend the loan offer?
The best person to deal with your question is your solicitors who should calculate whether he or she is should be discussing with the mortgage company, seller’s conveyancers, estate agents or indeed all three taking into account the circumstances your house move to date.
As someone unfamiliar with conveyancing in Sherwood what is the number one tip you can give me concerning the legal transfer of property in Sherwood
Not many law firms or advisers will tell you this but conveyancing in Sherwood or throughout Nottinghamshire is an adversarial process. Put another way, when it comes to conveyancing there exists an abundance of room for friction between you and other parties involved in the ownership transfer. E.g., the seller, property agent and sometimes the lender. Selecting a solicitor for your conveyancing in Sherwood an important selection as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to act in your legal interests and to keep you safe.
We are witnessing a definite emergence in the "blame" culture- someone must be blamed for the process taking so long. We recommend that you your first instinct should be to trust your solicitor ahead of the other players when it comes to the legal assignment of property.
I am selling my apartment in Sherwood. Will my property lawyer have to be required to be on the Bank of Ireland conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
When it comes to lenders such as Santander, do Sherwood property lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Sherwood lawyer on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
My sealed bid on a semi in Sherwood has been agreed to, but there is a chain. The sellers have offered on on an apartment, but it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have selected a local conveyancing solicitor in Sherwood. What do I do now? At what point do I apply for the mortgage with Kent Reliance?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Sherwood conveyancing search fees, etc). First, you must ensure that your solicitor is on the Kent Reliance conveyancing panel. Regarding the next phase this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market many buyers would apply for the mortgage with Kent Reliance and arrange for the valuation and only if it comes back ok would they pay their solicitor to press on with the conveyancing in Sherwood.
In what way does the Landlord & Tenant Act 1954 affect my business offices in Sherwood and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Sherwood
In sourcing the internet for the term on line conveyancing in Sherwood it brings up many conveyancersin the vicinity. With so much choice what is the best way to find the suitable conveyancer for purchase transaction?
The ideal way of seeking the right conveyancer is via trusted testimonial, so enquire of friends and relatives who have bought a property in Sherwood or a reputable estate agent or mortgage broker. Charges for conveyancing in Sherwood differ, so it's advisable to secure at least three fee estimates from varying types of conveyancers. Dont forget to clarify that the charges are guaranteed not to to be inflated.