We are about to exchange contracts for a leasehold flat in Alfreton. We have hit a problem. The loan offer with Accord Mortgages Ltd runs out on 28/7/2025 but the vendors are suggesting a completion date of 30/7/2025. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your lawyer who will determine whether he or she is corresponding with the bank, vendor’s solicitors, selling agents or possibly all parties taking into account what has gone on in your conveyancing to date.
We're in Alfreton, First time buyers purchasing with a mortgage (lender is HSBC , and our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
We are selling our house in Alfreton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Alfreton conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using an online conveyancing practice as opposed to a conveyancing solicitor in Alfreton. Having lived in Alfreton for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
How does conveyancing in Alfreton differ for new build properties?
Most buyers of new build residence in Alfreton come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Alfreton typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Alfreton or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Alfreton I like with open areas and transport links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Alfreton for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I am looking into buying my first house which is in Alfreton and I am already nervous. I couldn't find anything specific about Alfreton. Conveyancing will be needed in due course but do you know about the Alfreton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Alfreton. In the meantime here are some basic statistics that we found