We were just about to exchange contracts for a semi detached house in Altrincham. We encountered a snag. The mortgage offer with Birmingham Midshires expires on 14/3/2025 but the vendors are insisting on a completion date of 18/3/2025. Can one extend the loan offer?
The person best placed to address this issue is your solicitors who will assess if they better off negotiating with the mortgage broker, vendor’s lawyers, property agents or conceivably all three given the circumstances your transaction to date.
Do banks and building societies provide you with an approved list of Altrincham conveyancing solicitors? How do you know who is on the Lloyds conveyancing panel?
Altrincham conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
4 months have gone by following my purchase conveyancing in Altrincham concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 residence 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.
I decided to have a survey carried out on a house in Altrincham before instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies tend not grant a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Altrincham. Conveyancing will be smoother if you use a solicitor in Altrincham especially if they are acquainted with such properties in Altrincham.
Should I be suspicious about estate agents that I am dealing with are recommending a national conveyancing firm rather than a High Street Altrincham conveyancing practice?
As with many professional services, often input from family and friends can be very helpful. But there are numerous people with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as experts in their field, but occasionally there may be a financial incentive behind the endorsement. You are at liberty to appoint your preferred lawyer. Don't forget that most lenders have an approved list of conveyancers you have to use for the lender aspect of your home move.
Can you offer any advice when it comes to choosing a Altrincham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Altrincham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Altrincham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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Can they put you in touch with clients in Altrincham who can give a testimonial? How experienced is the firm with lease extension legislation?
I am the registered owner of a 1st floor flat in Altrincham, conveyancing having been completed in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Altrincham with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2105
You have 80 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.