We were just about to sign contracts for a semi detached house in Cricklade. We encountered a stumbling block. Our loan offer with Accord Mortgages Ltd expires on 4/11/2025 but the owners are putting forward a completion date of 6/11/2025. Can one prolong the loan offer?
The best person to deal with your concern is your solicitors who is in a position to assess if they should be discussing with the mortgage company, vendor’s lawyers, estate agents or possibly all three based on the circumstances your conveyancing to date.
Do I have to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Cricklade so that I can attend their offices if necessary.
Whereas this was necessary 15 years ago, the vast majority mortgage companies no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to hand over ID documents and there are still distinct advantages to using a locally based practitioner, in your situation a conveyancing solicitor in Cricklade.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a ground floor flat in Cricklade. Do I receive the keys to the property on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Cricklade?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s conveyancers, and once they have received this, you should be invited to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I am being advised by my solicitor that absentee landlord insurance is needed on my purchase. What is the level of cover for Cricklade conveyancing?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Virgin Money. Conveyancing lawyers as opposed to borrowers take out such policies.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Cricklade building society branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Cricklade conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The solicitor must comply with the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I need some quick conveyancing in Cricklade as I have pressure to complete inside one month. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no solicitor would recommend that you don't. With plenty of history conveyancing in Cricklade the following are examples of what can appear and adversely affect market value: Enforcement Actions, Outstanding Charges, Outstanding Grants, Road Schemes,...
Is it best to use a Cricklade conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can handle the conveyancing however her office is 400kilometers drive away.
The benefit of a local Cricklade conveyancing practice is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them if necessary. They will also have local intelligence which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were happy that must outweigh using an unfamiliar Cricklade conveyancing solicitor solely due to them being round the corner.