We are a couple about to exchange contracts for a ground floor flat in Beaumaris. We encountered a stumbling block. The loan offer with Platform Home Loans Ltd expires on 2/3/2026 but the vendors are insisting on a completion date of 4/3/2026. Is it possible to extend the loan offer?
The person best placed to address this question is your solicitors who will calculate whether they should be discussing with the bank, vendor’s solicitors, estate agents or possibly all parties based on the circumstances your house move as of today.
What does my ID and proof of funds have anything to do with my conveyancing in Beaumaris? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you are required to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to provide identification documents, your conveyancer would not be able to accept instructions from you.
4 months have gone by following my purchase conveyancing in Beaumaris completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.
How does conveyancing in Beaumaris differ for newly converted properties?
Most buyers of new build premises in Beaumaris approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Beaumaris tend to acquire 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 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 used to new build conveyancing in Beaumaris or who has acted in the same development.
Last June I purchased a leasehold flat in Beaumaris. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 1 bedroom flat in Beaumaris, conveyancing having been completed in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Beaumaris with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2088
You have 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
Your search tool is useful but there are many lawyers listed near Beaumaris being on the lender conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We are not in the business of recommending one firm above another as the right Beaumaris conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Beaumaris knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..