We are a couple about to sign contracts for a leasehold flat in Somersham. We have hit a problem. Our loan offer with Leeds Building Society expires on 23/11/2022 but the owners are suggesting a completion date of 25/11/2022. Can one prolong the loan expiry date?
The best person to deal with your issue is your lawyer who will hopefully calculate if he or she is better off negotiating with the lender, seller’s conveyancers, estate agents or conceivably all three given the history of your transaction as of today.
Why do I have to pay up front when it comes to conveyancing in Somersham?
Where you are retaining lawyers for conveyancing in Somersham your solicitor will ask you to provide them with monies to cover the search fees. Generally this is needed to cover the fees of the Local Authority Search. When the deposit is payable against the sale price then this should be required shortly ahead of contracts are exchanged. The closing balance that is needed will be payable a few days ahead of the day of completion.
The Somersham conveyancing solicitors that I appointed last week on my house acquisition in Somersham have without warning closed. They were on acting for me because I needed a firm on the Principality conveyancing panel and my family Somersham lawyer was not. I paid them 275 plus VAT in advance. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Principality conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
I used Wolstenholmes a few years past for my conveyancing in Somersham. Now, I need my files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Somersham of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build apartment in Somersham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Somersham
-
Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.
We're FTB’s - had an offer accepted, but the agent told us that the seller will only go ahead if we appoint the agent's chosen solicitors as they need a ‘quick sale’. We would rather use a high street conveyancer who is accustomed to conveyancing in Somersham
It is improbable the vendors are driving this. If they require ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Try to communicate with the sellers directly and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are chain free (d) you intend to proceed fast (e)however you will continue to instruct your preferred Somersham conveyancing solicitors - not the ones that will give their estate agent a kickback or meet his conveyancing figures demanded by senior management.