We were just about to exchange contracts for a leasehold flat in Sneyd Park. We encountered a snag. Our mortgage offer with Platform Home Loans Ltd runs out on 18/5/2023 but the vendors are suggesting a completion date of 22/5/2023. Is it possible to prolong the mortgage offer?
The best person to deal with your issue is your solicitors who should calculate if he or she is corresponding with the lender, vendor’s lawyers, property agents or indeed all three taking into account the history of your house move to date.
There are plenty of conveyancing solicitors in Sneyd Park but how do I know who's good?
Do not opt for the cheapest Sneyd Park conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
Forgive me if this question is silly but I am new to the home moving as a first time buyer of a ground floor flat in Sneyd Park. Do I pick up the keys to the house on the completion date from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Sneyd Park?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you will be invited to receive the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
I'm in the throws of viewing apartments in Sneyd Park and I am about to put in an offer. Should I already have a lawyer appointed at this point? I intend to finance via a home loan with Barclays.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are seeking a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.
Should our conveyancer be raising questions about flooding during the conveyancing in Sneyd Park.
The risk of flooding is if increasing concern for lawyers dealing with homes in Sneyd Park. There are those who buy a house in Sneyd Park, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of checks that may be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Sneyd Park. The conventional set of property information forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to find out whether the property has suffered from flooding. In the event that the property has been flooded in past which is not notified by the seller, then a purchaser could issue a claim for damages as a result of such an misleading reply. A buyer’s solicitors will also conduct an enviro report. This will reveal whether there is a recorded flood risk. If so, additional inquiries should be made.
I moved into my apartment on 7 April and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Sneyd Park advises it will be registered in a couple of weeks. Are properties in Sneyd Park uniquely lengthy to register?
As far as conveyancing in Sneyd Park registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. Currently roughly 80% of such applications are fully dealt with within two weeks but occasionally there can be extensive delays. Registration takes place after the buyer has moved in to the premises therefore 'speed' is not always primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Sneyd Park I like with open areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Sneyd Park for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.