We are a couple about to exchange contracts for a property in Tregaron. We have hit a problem. Our loan offer with Bank of Ireland runs out on 6/4/2023 but the owners are putting forward a completion date of 12/4/2023. Is it possible to prolong the mortgage offer?
The best person to deal with your issue is your lawyer who is in a position to determine whether they should be discussing with the lender, seller’s solicitors, estate agents or indeed all three given the circumstances your house move as of today.
I am buying a house and need a conveyancing solicitor in Tregaron who is on the Chelsea Building Society solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as Tregaron. We dont recommend any particular firm.
My wife and I are spending time viewing flats in Tregaron and I am now considering a potential offer. Should I already have a solicitor appointed at this point? I will be getting a home loan with Yorkshire BS.
You should start requesting conveyancing estimates from solicitors ASAP. 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 EA. Given that you are taking out a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
I have a mortgage with Santander for my property in Tregaron. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
You must advise Santander prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel solicitor.
I was told four weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Tregaron is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Tregaron?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Tregaron. 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 opted to have a survey carried out on a property in Tregaron before instructing lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may not grant a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tregaron. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tregaron to see if the conveyancing costs will increase in light of this.