We are a couple about to exchange contracts for a garden flat in Berkhamsted. We have hit a snag. The loan offer with HSBC Bank runs out on 2/12/2025 but the sellers are suggesting a completion date of 4/12/2025. Can one prolong the loan expiry date?
The best person to deal with your concern is your lawyer who will assess whether they should be discussing with the mortgage company, seller’s representatives, selling agents or conceivably all parties taking into account the history of your house move as of today.
Will conveyancers request an advanced payment for my conveyancing in Berkhamsted?
Where you are retaining lawyers for conveyancing in Berkhamsted your lawyer will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this should be required immediately in advance of exchange of contracts. Any further balance that is needed will be payable shortly before completion.
The Berkhamsted conveyancing lawyers that I recently instructed on my house acquisition in Berkhamsted have without warning closed. I only went with them because I needed a firm on the Nottingham conveyancing panel and my preferred Berkhamsted lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
My uncle advised me that in purchasing a property in Berkhamsted there could be various restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Berkhamsted which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Berkhamsted should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Kent Reliance, do Berkhamsted conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
My wife and I have arranged the release of further monies on our home loan from Aldermore as we want to conduct alterations to our house in Berkhamsted. Are we obliged to choose a bricks and mortar Berkhamsted solicitor on the Aldermore conveyancing panel to handle the legals?
Aldermore don't usually appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore panel.
The deeds to our home can not be found. The solicitors who conducted the conveyancing in Berkhamsted 5 years ago have long since closed. What are my options?
Nowadays there are copies made of almost everything, and your lawyer will know exactly where to find all the appropriate paperwork so you can buy or sell your house without any difficulty. If duplicates are not available, your lawyer can put in place insurance or indemnities protecting you against possible claims on your premises.
I have been on the look out for a flat up to £235,500 and found one round the corner in Berkhamsted I like with a park and railway links in the vicinity, however it only has 61 years on the lease. There is not much else in Berkhamsted for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.