We were just about to sign contracts for a leasehold flat in Leicester. We have hit a problem. The loan offer with Aldermore expires on 15/12/2025 but the sellers are insisting on a completion date of 17/12/2025. Is it possible to prolong the mortgage offer?
The person best placed to deal with your concern is your lawyer who will hopefully determine whether they corresponding with the mortgage broker, seller’s solicitors, selling agents or conceivably all parties given the circumstances your transaction as of today.
We are purchasing a flat in Leicester. It might be a silly question but how we can trust a conveyancer? At some point we will need to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We expect to receive a OIP from Principality this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Leicester solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Leicester solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I have paid off my mortgage with Virgin Money. I assume I don't need a Leicester conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I need some fast conveyancing in Leicester as I am under an ultimatum to complete in less than 3 weeks. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you have the choice not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Leicester the following are examples of issues that can arise and therefore affect market value: Refused Planning Applications, Overdue Charges, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Leicester?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Leicester. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £305k and identified one close by in Leicester I like with amenity areas and railway links nearby, however it only has 51 remaining years left on the lease. There is not much else in Leicester for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.