We are about to sign contracts for a garden flat in West Kensington. We have hit a snag. The loan offer with Leeds Building Society runs out on 5/7/2021 but the sellers are insisting on a completion date of 7/7/2021. Is it possible to extend the loan expiry date?
The best person to address this question is your solicitors who will calculate whether they better off negotiating with the mortgage company, owner’s lawyers, estate agents or indeed all three based on the history of your transaction as of today.
Can you clarify what the consequences are if my solicitor is suspended from the Aldermore Conveyancing panel ahead of completing my conveyancing in West Kensington?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I used Wolstenholmes a few years ago for my conveyancing in West Kensington. Now, I need the documents however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 West Kensington of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in West Kensington I like with a park and railway links in the vicinity, however it only has 61 years on the lease. There is not much else in West Kensington in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
We are a couple of weeks into a residential purchase having been recommend to a firm by the selling agent to do our conveyancing in West Kensington. I am am very disappointed with the level of service. Can you you assist me in finding new lawyers?
A lawyer would have to be really bad in order to consider replacing them. Has the mortgage been issued? In the event that it has you need to advise them of the new conveyancer and get the loan are issued to the new lawyers. The solicitor ideally should be on the lenders panel to avoid supplemental charges and frustration. That should be your first question of the new solicitors. The search tool can help you find a bank approved lawyer for your home move in West Kensington
What should I expect to pay for conveyancing in West Kensington?
Almost all West Kensington conveyancing firms will agree to a fixed fee. Where further work become due during the conveyancing your solicitor is obliged disclose to you in writing of such extra fees for any work as soon as it becomes foreseeable. Some work on a no completion no charge basis, others will levy an bill for a fraction of the set charges, depending on the point at which the deal falls through.
It is advisable to obtain various firms to send you a quotation.