We are about to exchange contracts for a leasehold flat in Whiston. We have hit a stumbling block. The mortgage offer with National Westminster Bank runs out on 18/6/2019 but the vendors are insisting on a completion date of 20/6/2019. Can one extend the mortgage expiry date?
The person best placed to address this concern is your lawyer who will hopefully determine whether he or she is should be discussing with the mortgage company, seller’s lawyers, property agents or conceivably all three based on the circumstances your house move to date.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Whiston. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/4/2019, the requirements read as follows :
Me and my partner are buying a house in Whiston. It might be a silly question but how we can trust a solicitor? On completion day we have to send funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
If you had a top tip for choosing a conveyancing solicitor in Whiston what would it be?
We would encourage you not to go for the cheapest Whiston conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. 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 time.
I was told two weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Whiston is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am looking for a flat up to £245,000 and identified one round the corner in Whiston I like with amenity areas and station nearby, however it only has 51 years on the lease. I can't really find anything else in Whiston in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
We're first time buyers - agreed a price, but the property agent informed us that the vendor will only issue a contract if we instruct the agent's recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a family conveyancer used to conveyancing in Whiston
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to appoint your preferred Whiston conveyancing firm - as opposed tothose that will provide the negotiator at the agency a commission or achieve conveyancing thresholds pre-set by head office.