We were just about to exchange contracts for a semi detached house in Shotley Bridge. We have hit a snag. The mortgage offer with Bank of Ireland expires on 23/12/2025 but the owners are insisting on a completion date of 29/12/2025. Can one prolong the loan offer?
The best person to deal with your question is your solicitors who should determine if they should be discussing with the lender, owner’s representatives, estate agents or conceivably all three given the circumstances your conveyancing as of today.
My Solicitor in Shotley Bridge is not on the Barclays Solicitor Panel. Can I still continue with my prefered solicitor even though they are excluded from the Barclays panel?
Your options are as follows:
- Carry on with your existing Shotley Bridge lawyers but Barclays will need to instruct a conveyancer on their list of acceptable firms. This will result in additional overall legal fees as well as result in delays.
- Find an alternative lawyer to to deal with the purchase, not forgetting to check they are Convince your lawyer to use their best endeavours to join the Barclays conveyancing panel
How does conveyancing in Shotley Bridge differ for newly converted properties?
Most buyers of new build residence in Shotley Bridge contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Shotley Bridge tend to purchase the site, 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 conveyancers 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 Shotley Bridge or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Shotley Bridge I like with amenity areas and transport links nearby, however it's only got 52 years on the lease. I can't really find anything else in Shotley Bridge suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
My company is intending to take over a lease of an office on a shopping parade. Can you recommend lawyers offering competitive fees for non-domestic conveyancing in Shotley Bridge for under 2k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Shotley Bridge, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. Regarding the charges these will vary based on the structure and heads of terms of the deal. Please provide us with your contact information or call us so that we may supply you with a fixed commercial conveyancing calculation.
Our lenders have just issued us with a mortgage offer. We are using a reputable conveyancer in Shotley Bridge two days ago. Today, our financial adviser phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the mortgage company had some control over our choice Is this legal?
You are at liberty to instruct any lawyer you want to appoint including the said conveyancer in Shotley Bridge but if your bank aren't happy with them you would have to pay an extra fee so the mortgage company can retain their own conveyancer too. On occasion it is possible your solicitor may apply to get added to the mortgage company panel. You can use online search facilities including lenderpanel.com to find a conveyancing solcitor in Shotley Bridge on the mortgage company panel. You can go into your local bank branch in Shotley Bridge. They can recommend conveyancing solicitors in Shotley Bridge on the lender panel.