We are a couple about to exchange contracts for a freehold house in Penshaw. We encountered a stumbling block. The loan offer with Birmingham Midshires expires on 15/3/2021 but the vendors are putting forward a completion date of 17/3/2021. Is it possible to extend the loan offer?
The best person to deal with your concern is your lawyer who is in a position to calculate whether they better off negotiating with the lender, vendor’s lawyers, property agents or conceivably all parties based on the history of your conveyancing to date.
Do I have to visit the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Penshaw so that I can attend their offices when needed.
As opposed to 15 years ago, most lenders no longer need their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to hand over identification documents and there are still manifest benefits to choosing a locally based practitioner, in your case a conveyancing solicitor in Penshaw.
Will my lawyer be making enquiries regarding flooding as part of the conveyancing in Penshaw.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Penshaw. Plenty of people will acquire a property in Penshaw, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of searches that may be initiated by the purchaser or by their solicitors which should figure out the risks in Penshaw. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the vendor, then a purchaser may issue a claim for damages resulting from an misleading reply. The purchaser’s solicitors should also order an enviro report. This should higlight if there is a recorded flood risk. If so, additional inquiries should be made.
How do I use the search tool to locate a conveyancing solicitor in Penshaw on the panel for my lender?
Step one is to select a lender such as National Westminster Bank, The Royal Bank of Scotland or Nottingham Building Society then choose your location for instance Penshaw. Conveyancing organisations in Penshaw and further afield will then be listed.
My brother has suggested that I use his conveyancing solicitors in Penshaw. Do I take his advice?
Much as we are happy to recommend a Penshaw conveyancing lawyer it’s preferable to select a conveyancing practitioner is to get guidance from friends or family who have experience in using the solicitor that you are are thinking of instructing.