We were just about to exchange contracts for a garden flat in Kingston. We encountered a problem. Our mortgage offer with Bank of Scotland expires on 3/10/2022 but the owners are suggesting a completion date of 5/10/2022. Is it possible to prolong the loan expiry date?
The person best placed to deal with your question is your solicitors who will hopefully determine whether they better off negotiating with the mortgage broker, owner’s lawyers, selling agents or possibly all three given what has happend in your house move as of today.
Various internet forums that I have visited warn that are the primary reason for obstruction in Kingston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Kingston.
I am buying my first flat in Kingston benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of extras instead. The sale representative advised me not inform my solicitor about the deal as it would adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm refinancing my primary home to a buy to let loan with National Westminster Bank and intend to use the remaining equity as a down payment on another property. The location we are talking about is Kingston. Will your conveyancers be able to act for both sets of banks and tie in the two deals?
Do use our comparison tool on this page to be sure that the lawyers are on the relevant lender panels. Assuming that they are the conveyancer should be able to tie up the two deals but you should have a chat with you lawyer and make clear your expectations and needs.
My husband and I are first time buyers - had an offer accepted, but the estate agent advised that the vendor will only move forward if we use their preferred solicitors as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer used to conveyancing in Kingston
It is highly unlikely the vendors are driving this. Should the owner desire ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)however you are going to instruct your own,trusted Kingston conveyancing lawyers - not the ones that will provide the estate agent a introducer fee or achieve conveyancing thresholds set by senior management.