We are about to exchange contracts for a garden flat in Stockport. We have hit a stumbling block. Our mortgage offer with Godiva Mortgages Ltd expires on 4/4/2023 but the vendors are insisting on a completion date of 6/4/2023. Is it possible to prolong the mortgage offer?
The best person to deal with your question is your solicitors who will hopefully calculate if he or she is should be discussing with the mortgage company, vendor’s solicitors, estate agents or indeed all three based on the history of your house move to date.
I have 71 years remaining on my lease and require a lease extension for my flat in Stockport. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/2/2023 the requirements read as follows :
How does conveyancing in Stockport differ for new build properties?
Most buyers of new build or newly converted property in Stockport contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Stockport typically 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 Stockport 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 a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Stockport is the location of the property. Can you shed any light on this issue?
Flying freeholds in Stockport are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stockport you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stockport 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 property.
How straightforward is it to use the search tool to select a conveyancing solicitor in Stockport on the panel for my mortgage?
1st choose a mortgage company such as Birmingham Midshires, Coventry Building Society or Britannia then specify your location for example Stockport. Conveyancing organisations in Stockport and across England and Wales will then be shown.
I am thinking of appointing a conveyancing solicitor in Stockport for my house move. Is it possible to see a firm’s complaints history with the legal regulator?
You may read presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.