We were just about to exchange contracts for a property in Frenchay Common. We encountered a problem. The mortgage offer with Lloyds TSB Bank runs out on 11/11/2020 but the vendors are insisting on a completion date of 13/11/2020. Can one prolong the mortgage offer?
The best person to deal with your concern is your lawyer who will hopefully calculate whether they better off negotiating with the lender, seller’s conveyancers, estate agents or conceivably all parties based on what has happend in your house move as of today.
We wanted to use a property lawyer in Frenchay Common for our house purchase. Our financial adviser informed us that our mortgage company Godiva Mortgages Ltd won't deal with them. Surely this is unfair competition?
A bank may insist on an approved conveyancer act for it. Borrowers are liable to meet the charges for this. Do use our directory service to select a solicitor to conduct conveyancing in Frenchay Common on the Godiva Mortgages Ltd conveyancing panel.
How does conveyancing in Frenchay Common differ for new build properties?
Most buyers of new build or newly converted property in Frenchay Common approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Frenchay Common typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Frenchay Common or who has acted in the same development.
I am looking for a ground for flat up to £305k and found one close by in Frenchay Common I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. There is not much else in Frenchay Common in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage that many years may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am looking for a conveyancing practitioner in Frenchay Common for my remortgage. Is it possible to see a solicitor's record with the legal regulator?
Members of the public may read documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.