We were just about to exchange contracts for a semi detached house in Papworth Everard. We encountered a stumbling block. Our loan offer with National Westminster Bank expires on 26/1/2024 but the owners are putting forward a completion date of 30/1/2024. Is it possible to prolong the loan offer?
The person best placed to deal with your question is your lawyer who is in a position to calculate whether they should be discussing with the lender, owner’s conveyancers, estate agents or indeed all parties given what has gone on in your conveyancing to date.
Have just purchased a probate house at auction in Papworth Everard. Conveyancing is needed. What is next?
Now that you are legally committed yourself to purchase you now have to instruct a conveyancing lawyer soon as you now have a pending a drop dead date to complete the deal. An auction property will ordinarily have an associated legal pack. This will include most,if not all of the documents that your conveyancer requires. In the case of leasehold premises the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You must pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are organised to complete the transaction on the set completion date.
Can you point me to a directory of Kent Reliance panel conveyancers in Papworth Everard on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings available online. If you are looking for a Papworth Everard property lawyer on the Kent Reliance please use our facility.
My husband and I are in the throws of viewing apartments in Papworth Everard and I am now considering a potential offer. Is it sensible to have a solicitor on ‘stand by’? I intend to finance via a home loan with Clydesdale.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are obtaining a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
Will our lawyer be asking questions about flooding as part of the conveyancing in Papworth Everard.
Flooding is a growing risk for lawyers carrying out conveyancing in Papworth Everard. Some people will acquire a house in Papworth Everard, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a number of searches that can be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Papworth Everard. The conventional set of property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to discover whether the premises has suffered from flooding. In the event that the premises has been flooded in past and is not notified by the owner, then a buyer could bring a legal claim for losses resulting from an misleading answer. A purchaser’s conveyancers may also order an enviro report. This will higlight whether there is a recorded flood risk. If so, more detailed inquiries should be initiated.
I am buying a new build house in Papworth Everard with the aid of help to buy. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about this deal as it may impact my mortgage with Halifax. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Papworth Everard I like with open areas and railway links nearby, however it's only got 52 years on the lease. There is not much else in Papworth Everard for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will be an issue. Discount 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 at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.