We were just about to exchange contracts for a semi detached house in Kilburn. We encountered a snag. The mortgage offer with Platform Home Loans Ltd expires on 23/4/2019 but the vendors are insisting on a completion date of 25/4/2019. Can one prolong the loan offer?
The best person to address this issue is your lawyer who should calculate whether they should be discussing with the mortgage company, vendor’s solicitors, selling agents or possibly all parties given the history of your transaction to date.
My house in Kilburn is up for sale and I have accepted an offer. Will the solicitor have to be on the Principality conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
It has been 4 months since my purchase conveyancing in Kilburn took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Kilburn I like with a park and railway links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Kilburn for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
We're FTB’s - had an offer accepted, yet the estate agent advised that the owners will only move forward if we appoint their preferred conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Kilburn
We suspect that the seller is not behind this request. If they desire ‘a quick sale', turning down a genuine buyer is counter productive. Try to communicate with the vendors directly and make the point that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your own,trusted Kilburn conveyancing firm - as opposed tothe ones that will provide their estate agent a referral fee or hit his conveyancing figures set by HQ.