We were just about to sign contracts for a property in Eccles. We encountered a problem. The loan offer with Yorkshire Building Society runs out on 20/6/2024 but the sellers are insisting on a completion date of 24/6/2024. Can one prolong the mortgage offer?
The person best placed to deal with your issue is your solicitors who should determine whether they should be discussing with the mortgage broker, owner’s representatives, estate agents or indeed all three given what has gone on in your transaction to date.
Why is leasehold purchase conveyancing in Eccles is more expensive?
In summary, leasehold conveyancing in Eccles and Greater Manchester usually warrants extra work compared to freehold conveyancing. This includes analysing the lease terms, communicating with the landlord concerning the service of required notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
I am considering applying for a Coventry BS mortgage for purchase of a newly converted (under development) in Eccles with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I require fast conveyancing in Eccles as I have a deadline to sign on the dotted line inside one month. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are not taking a home loan you are at free not to have searches conducted although no conveyancer would suggest that you don't. With plenty of history conveyancing in Eccles the following are instances of issues that can show up and adversely affect market value: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Eccles is the location of the property. Is there any guidance you can give?
Flying freeholds in Eccles are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Eccles you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eccles 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.