We were just about to exchange contracts for a property in Bourne End. We have hit a problem. The mortgage offer with Lloyds TSB Bank runs out on 28/10/2025 but the vendors are insisting on a completion date of 30/10/2025. Can one extend the mortgage offer?
The person best placed to address this issue is your lawyer who should determine whether he or she is corresponding with the lender, seller’s representatives, selling agents or indeed all parties given the circumstances your transaction as of today.
I am buying a new build house in Bourne End benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not reveal to my conveyancer about this side-deal as it may put at risk my loan with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £305k and found one round the corner in Bourne End I like with a park and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Bourne End in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
Is there anything unique about your site and other internet conveyancing brokers for conveyancing in Bourne End?
At this site obtain an accurate costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Bourne End. As opposed to estate agents and many comparison sites we are not in the business of charging firms a fee if you choose them for your home move in Bourne End
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Bourne End. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Bourne End are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Bourne End in which case you should be shopping around for a Bourne End conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
I purchased a basement flat in Bourne End, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Bourne End with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2087
With 62 years remaining on your lease we estimate the price of your lease extension to range between £17,100 and £19,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
Whilst your website is a good idea there are many lawyers listed near Bourne End being on the lender conveyancing panel. Can you recommend a specific firm on the conveyancing panel for our bank?
We do not recommend specific Bourne End firms as the right Bourne End conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Bourne End knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..