We are about to sign contracts for a semi detached house in Todmorden. We have hit a snag. The mortgage offer with Clydesdale expires on 8/12/2025 but the owners are suggesting a completion date of 10/12/2025. Can one extend the mortgage expiry date?
The person best placed to deal with your issue is your conveyancer who is in a position to determine if they better off negotiating with the mortgage broker, vendor’s conveyancers, selling agents or conceivably all three based on the circumstances your transaction as of today.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Todmorden building society branch on various occasions and was told they are content with the situation and they would lend. My Todmorden conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend in accordance with their specific requirements. I simply don't know who is right.
Provided that the solicitor is on the lender panel, she or he must comply with the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my house. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being problematic. The Todmorden solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Todmorden is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up during conveyancing in Todmorden?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Todmorden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £305k and found one close by in Todmorden I like with open areas and transport links nearby, however it only has 51 years on the lease. I can't really find anything else in Todmorden suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I'm refinancing my current home to a BTL mortgage with Skipton Building Society and I will use the ballance of the raised equity as a down payment on further property. The neighborhood we are talking about is Todmorden. Will your solicitors be able to act for the two lenders and link together the transactions?
Make use of our search tool on this page to ensure that the lawyers are approved by both mortgage companies. Having checked that they are the solicitor should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make apparent your expectations and requirements.