We were just about to sign contracts for a freehold house in Bakewell. We have hit a problem. The loan offer with Yorkshire Building Society expires on 5/4/2023 but the vendors are putting forward a completion date of 11/4/2023. Is it possible to extend the mortgage expiry date?
The person best placed to deal with your question is your lawyer who should assess if they should be discussing with the mortgage broker, owner’s representatives, estate agents or indeed all parties based on the circumstances your conveyancing as of today.
I'm buying a new build house in Bakewell with a mortgage from Chelsea Building Society. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my lawyer about the extras as it would put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey done on a property in Bakewell ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may refuse to grant a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bakewell. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to swap solicitor as I have to instruct a firm on the Bank of Ireland conveyancing list. I hired a high street conveyancing solicitor in Bakewell round the corner but he is not approved by Bank of Ireland
It would be our pleasure to help you select a conveyancing solicitor in Bakewell on the Bank of Ireland panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Bakewell. In utilising the find a conveyancing solicitor tool on this website, you can compare costs for conveyancing solicitors in Bakewell and throughout England and Wales.
What advice can you give us when it comes to choosing a Bakewell conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Bakewell conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Bakewell conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
If they are not ALEP accredited then why not? What are the costs for lease extension conveyancing?
Leasehold Conveyancing in Bakewell - Examples of Questions you should consider Prior to Purchasing
It is important to be aware if redecorating or some other significant cost is pending that will be shared between the leasehold owners and will materially increase the the service charges or result in a specific payment. Its a good idea to discover as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the communal areas. Don't be afraid to ask other tenants whether they are happy with their management. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. How many of the leaseholders are in arrears for their maintenance charge payments?