We are about to sign contracts for a semi detached house in South Acton. We encountered a snag. The mortgage offer with National Westminster Bank runs out on 23/9/2024 but the owners are putting forward a completion date of 25/9/2024. Can one extend the loan expiry date?
The person best placed to address this issue is your solicitors who will hopefully determine if he or she is corresponding with the mortgage company, seller’s solicitors, selling agents or conceivably all parties based on what has gone on in your conveyancing to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in South Acton? What am I being asked for?
South Acton conveyancing solicitors and indeed property practitioners throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill no more than three months).
Evidence of the origin of monies is also required in compliance with the money laundering statutes as solicitors are mandated to ensure that the money you are utilising to acquire a property (whether it be the deposit for exchange or the total purchase amount where you are buying mortgage free) has originated from legitimate source (such as an inheritance) rather than the proceeds of criminal behaviour.
Are there restrictive covenants that are commonly identified as part of conveyancing in South Acton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in South Acton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in South Acton differ for newly converted properties?
Most buyers of new build or newly converted property in South Acton come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in South Acton usually buy 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 used to new build conveyancing in South Acton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. South Acton is the location of the property. Is there any advice you can give?
Flying freeholds in South Acton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Acton you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Acton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am a sole trader planning to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed costs for non-domestic conveyancing in South Acton for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in South Acton, including the sale and acquisition of businesses as well as simply property. If you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right solicitor. Regarding the costs this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or phone us so that we can supply you with comprehensive commercial conveyancing calculation.