We were just about to sign contracts for a property in Badsey. We have hit a stumbling block. Our loan offer with Britannia expires on 15/1/2026 but the vendors are insisting on a completion date of 19/1/2026. Is it possible to extend the mortgage offer?
The best person to address this concern is your conveyancer who will hopefully assess whether he or she is corresponding with the bank, owner’s representatives, property agents or indeed all three based on the history of your conveyancing as of today.
We are selling our home in Badsey. Will the solicitor have to be required to be on the Nottingham conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
I happen to be the only recipient of my late mum's will with all property in now in my sole name, including the house in Badsey. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I do know about the CML six month 'rule', which means that my proprietorship may be regarded the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view lenders take of it, depend on the bank as this obligation is primarily there to capture subsales or the flipping of property.
When it comes to lenders such as HSBC, do Badsey conveyancers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Is it the case that all Badsey solicitor firms on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
How does conveyancing in Badsey differ for new build properties?
Most buyers of new build residence in Badsey approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Badsey usually buy the real estate, 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 property lawyers 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 Badsey or who has acted in the same development.
What does commercial conveyancing in Badsey cover?
Commercial conveyancing in Badsey incorporates a broad array of guidance, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My step-father has encouraged me to instruct his conveyancing solicitors in Badsey. Should I find my own property lawyer?
Much as we are happy to recommend a Badsey conveyancing lawyer the best way to choose a conveyancing practitioner is to seek recommendations from friends or family who have actually used the solicitor you're contemplating using.