We were just about to exchange contracts for a garden flat in Beaconsfield. We encountered a problem. Our mortgage offer with Barclays expires on 20/1/2025 but the owners are suggesting a completion date of 22/1/2025. Can one extend the loan offer?
The best person to deal with your issue is your conveyancer who will calculate whether they should be discussing with the lender, vendor’s representatives, selling agents or indeed all parties based on the history of your transaction as of today.
Should our lawyer be asking questions about flooding as part of the conveyancing in Beaconsfield.
Flooding is a growing risk for conveyancers dealing with homes in Beaconsfield. Some people will acquire a property in Beaconsfield, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Beaconsfield. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to discover whether the premises has suffered from flooding. If the property has been flooded in past which is not notified by the owner, then a buyer could bring a claim for damages resulting from an incorrect response. The buyer’s solicitors will also commission an enviro search. This will disclose whether there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
How does conveyancing in Beaconsfield differ for newly converted properties?
Most buyers of new build premises in Beaconsfield contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Beaconsfield tend to purchase 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 conveyancers 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 Beaconsfield or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Beaconsfield is the location of the property. Is there any guidance you can give?
Flying freeholds in Beaconsfield are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beaconsfield you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beaconsfield may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm converting the mortgage on my current home to a buy to let mortgage with Godiva Mortgages Ltd and intend to use the remaining equity towards a second house. The location we are interested in is Beaconsfield. Will your lawyers be able to act for the two lenders and link together the two deals?
Make use of our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are the conveyancer will be able to tie up the two deals but you should have a chat with you conveyancer and make clear your desired outcome and needs.
If all goes to plan we aim to complete the disposal of our £175,000 flat in Beaconsfield next Monday. The freeholder has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Beaconsfield?
Beaconsfield conveyancing on leasehold apartments nine out of ten times involves fees being raised by managing agents :
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Completing pre-contract questions
Where consent is required before sale in Beaconsfield
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a 1 bedroom flat in Beaconsfield, conveyancing having been completed April 2002. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Beaconsfield with a long lease are worth £216,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2093
You have 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. 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 take any other action placing reliance on this information without first seeking the advice of a professional.