We are about to sign contracts for a leasehold flat in Abercynon. We encountered a problem. The mortgage offer with Virgin Money expires on 29/5/2025 but the vendors are insisting on a completion date of 2/6/2025. Is it possible to prolong the mortgage offer?
The best person to address this question is your lawyer who is in a position to assess whether he or she is better off negotiating with the bank, vendor’s lawyers, estate agents or possibly all parties given the circumstances your transaction as of today.
We're in Abercynon, First time buyers purchasing with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
2 months have elapsed following my purchase conveyancing in Abercynon concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My step-father has suggested that I appoint his conveyancers in Abercynon. Should I choose my own solicitor?
Much as we are happy to recommend a Abercynon conveyancing lawyer it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have experience in using the solicitor that you are contemplating using.
There are only 72 years unexpired on my flat in Abercynon. I am keen to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent may be helpful to conduct investigations and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Abercynon.
Abercynon Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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Does the lease include onerous restrictions? The answer will be useful as a) areas could cause problems in the block as the common areas may begin to deteriorate where repairs remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have full disclosure
Me and my fiance have recently had an offer agreed on a house and had meeting on Wednesday with Nationwide for the mortgage. They advised us that when it comes to choosing a conveyancer that if they are not on their approved panel of property lawyers then we will have to pay out an additional charge of £200. This is because they will then have to instruct a conveyancer to act for them in addition to the one we choose to act for ourselves and we are liable for their invoice. I have asked Nationwide to provide me with a list so I can request estimates only from their approved solicitors but was told that I need to check with each individual lawyer to see if they are on the panel. Is there a list online?
Ask Nationwide what their criteria for panel membership is for a solicitor.Thereafter ask the solicitor of your choice whether they fit that criteria and have they acted on mortgages for Nationwide in the past. If the answer to those is yes, then just double check with Nationwide. Alternatively please make use of our search facility and we should be able to locate a property lawyer in Abercynon on the approved list for Nationwide.