We were just about to exchange contracts for a property in Market Harborough. We encountered a stumbling block. The mortgage offer with Leeds Building Society expires on 11/3/2026 but the vendors are suggesting a completion date of 13/3/2026. Can one extend the loan offer?
The best person to address this question is your conveyancer who will hopefully calculate whether they better off negotiating with the mortgage company, owner’s solicitors, estate agents or possibly all three given what has happend in your house move as of today.
When researching mumsnet.com for a recommended solicitor in Market Harborough, most advise that I must instruct a CQS kitemarked lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Market Harborough is one of the numerous areas of the UK where there are Accredited lawyers.
I am aiming to move house in April. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you suggest a removal company in Market Harborough. Conveyancing firm was organised prior to coming across your website.
On the afternoon of completion you will need to collect the house keys from your property agent but this can only be done once the sellers solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You should tell the removal men that they can start moving you in. We are not in a position to recommend a particular removal company but can assist you in locating a conveyancing in Market Harborough or a lawyer with expertise in conveyancing in Market Harborough.
I am purchasing a property in Market Harborough. A rare aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nationwide your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Nationwide where a lease fails to meet these requirements. The conditions relate to the installation of panels on properties countrywide and is not limited to Market Harborough.
We were going to get a DIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Market Harborough solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Market Harborough solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
4 months have gone by following my purchase conveyancing in Market Harborough concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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.
Last September I purchased a leasehold property in Market Harborough. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a leasehold flat in Market Harborough, conveyancing having been completed 7 years ago. How much will my lease extension cost? Comparable properties in Market Harborough with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2098
You have 72 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.