We are about to exchange contracts for a garden flat in Blakedown. We have hit a snag. The loan offer with Godiva Mortgages Ltd expires on 15/8/2025 but the sellers are putting forward a completion date of 19/8/2025. Is it possible to extend the mortgage offer?
The person best placed to address this issue is your conveyancer who will hopefully assess if they corresponding with the lender, owner’s representatives, selling agents or indeed all parties based on what has gone on in your conveyancing to date.
When it comes to lenders such as UBS, do Blakedown solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Skipton panel solicitors in Blakedown on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings visible on the web. Where you are looking for a Blakedown conveyancer on the Skipton please make the most of our tool.
I am due to exchange contracts on my apartment. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being problematic. The Blakedown solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I moved into my house on 1 September and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Blakedown advises it will be recorded in a couple of weeks. Are titles in Blakedown particularly slow to register?
There is nothing unique about conveyancing in Blakedown registration formalities. Rather than based on location, timeframes can vary according to who lodges the application, whether it is in order and whether the Land registry must send notices to any third parties. At present in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be protracted delays. Historically registration occurs after the new owner is living at the premises thus 'speed' is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
How does conveyancing in Blakedown differ for newly converted properties?
Most buyers of new build premises in Blakedown come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Blakedown tend to buy 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 Blakedown or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Blakedown is the location of the property. Is there any advice you can impart?
Flying freeholds in Blakedown are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blakedown you would need to get your solicitor to go 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 Blakedown 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.
Our solicitor in Blakedown has identified a defect with the lease for the flat we are buying in Blakedown. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.