We were just about to exchange contracts for a semi detached house in Seaham. We encountered a stumbling block. Our loan offer with Nationwide Building Society expires on 15/12/2025 but the sellers are insisting on a completion date of 17/12/2025. Is it possible to extend the loan offer?
The best person to deal with your concern is your conveyancer who is in a position to assess if they better off negotiating with the bank, owner’s conveyancers, estate agents or possibly all parties given the history of your transaction to date.
Do I have to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Seaham so that I can attend their offices if necessary.
Nowadays conveyancing panel lawyers for mortgage companies conduct their work through the post, internet or over the phone. This means that they can undertake the legal work for your home move regardless of where you live in England or Wales. However you should see if you can still book an appointment to visit conveyancing lawyer if needed.
How does conveyancing in Seaham differ for newly converted properties?
Most buyers of new build or newly converted property in Seaham contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Seaham tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Seaham or who has acted in the same development.
I opted to have a survey carried out on a house in Seaham prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may refuse to give a mortgage on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Seaham. Conveyancing will be smoother if you use a solicitor in Seaham especially if they are acquainted with such properties in Seaham.
I need to retain a conveyancing solicitor for freehold conveyancing in Seaham. I've discover a site which seems to have the ideal solution If there is a chance to get all formalities done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?