We are about to exchange contracts for a semi detached house in Driffield. We have hit a snag. Our loan offer with Godiva Mortgages Ltd runs out on 6/2/2023 but the sellers are suggesting a completion date of 8/2/2023. Is it possible to prolong the mortgage expiry date?
The best person to deal with your question is your lawyer who will determine whether they corresponding with the mortgage company, seller’s solicitors, property agents or indeed all parties given the history of your transaction as of today.
We're in Driffield, First timers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
When it comes to mortgage companies such as Principality, do Driffield property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Driffield building society branch on various occasions and was reassured it wasn't a problem and they would lend. My Driffield conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their published requirements. Who do I believe?
Your lawyer has to follow the CML Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a apartment in Driffield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Driffield conveyancer is on the Leeds Building Society conveyancing panel.
I am selling our home in Driffield and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using an online conveyancing practice as opposed to a conveyancing solicitor in Driffield. Having lived in Driffield for six years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
My brother is purchasing a basement flat in Driffield. He has received an estimate by the solicitor connected to the estate agents totaling £1385 . It was fifteen years ago I sold and bought a house and the bill was £just under five hundred pounds. Have costs really gone up that much?
You should visit two or three local Driffield conveyancing solicitors requesting prices. You should base your decision not just on cost, but on promptness and on how comprehensive the response was.