We were just about to sign contracts for a garden flat in Billesdon. We have hit a stumbling block. The mortgage offer with Bank of Scotland runs out on 20/5/2025 but the vendors are suggesting a completion date of 22/5/2025. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your solicitors who will assess whether he or she is should be discussing with the bank, seller’s representatives, property agents or indeed all parties given the circumstances your transaction as of today.
4 months have elapsed since my purchase conveyancing in Billesdon concluded. 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 Billesdon differ for newly converted properties?
Most buyers of new build residence in Billesdon contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Billesdon tend to buy the site, 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 Billesdon or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Billesdon is where the house is located. Is there any guidance you can give?
Flying freeholds in Billesdon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Billesdon you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Billesdon may determine 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 am using a search engine for the words conveyancing in Billesdon it reveals numerous property lawyersin the vicinity. How do I determine which is the right property lawyer for purchase transaction?
The preferential way of finding the right conveyancer is through a trusted recommendation, so ask friends and those you trust who have bought a property in Billesdon or the reputable estate agent or financial adviser. Charges for conveyancing in Billesdon differ, so it's a good idea to secure at least three quotes from different companies. Dont forget to clarify that the charges are assured not to to be inflated.
I wish to rent out my leasehold flat in Billesdon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Billesdon conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of prior permission. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Billesdon Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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What is the annual service fee and ground rent? Is anyone aware of any major works in the planning that will add a premium to the maintenance fees? It is important to be aware if fixing the lift or some other major work is anticipated to be shared amongst the leaseholders and could well dramatically increase the the service costs or necessitate a specific invoice.