We were just about to sign contracts for a garden flat in Lincolnshire. We encountered a snag. The loan offer with The Royal Bank of Scotland expires on 25/9/2024 but the owners are putting forward a completion date of 27/9/2024. Is it possible to prolong the mortgage offer?
The person best placed to deal with your issue is your lawyer who should calculate if they better off negotiating with the bank, seller’s conveyancers, estate agents or indeed all parties taking into account the history of your house move to date.
How up to date is your database of Lincolnshire solicitors on the Nationwide conveyancing panel? Do Nationwide send you an updated list?
Lincolnshire conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
I am about to put a bid on a leasehold flat in Lincolnshire. The selling agents tell me that it is standard for flats in Lincolnshire to have less than 75 years left on the lease. I am obtaining a mortgage with Chelsea Building Society. Will the property be mortgageable given that the lease has 72 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/7/2024 the requirements read as follows :
I got the keys to my apartment on 12 November and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Lincolnshire expressed confidence that it should be registered inside ten days. Are properties in Lincolnshire particularly slow to register?
There is nothing unique when it comes to conveyancing in Lincolnshire registration formalities. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether there are errors and if the Land registry communicate with any other parties. As of today approximately three quarters of submission are completed within two weeks but some can be subject to protracted hold-ups. Historically registration occurs once the purchaser is living at the premises so 'speed' is not typically an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
Due to the guidance of my in-laws I had a survey completed on a property in Lincolnshire ahead of instructing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders may not give a mortgage on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lincolnshire. Conveyancing may be slightly more expensive based on your lender's requirements.