We are a couple about to sign contracts for a leasehold flat in Chelmsley Wood. We encountered a snag. The loan offer with Barclays runs out on 17/4/2025 but the vendors are suggesting a completion date of 23/4/2025. Is it possible to extend the mortgage expiry date?
The best person to address this question is your lawyer who will calculate whether they better off negotiating with the lender, seller’s representatives, property agents or indeed all three taking into account what has happend in your transaction as of today.
Our lender has suggested a law firm on their panel based in Chelmsley Wood but I would rather use a conveyancing lawyer in Chelmsley Wood or nearer to where I live. Are you able to help?
It is by no means the case that all Chelmsley Wood conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Use the above find an approved solicitor tool to find a Chelmsley Wood conveyancing conveyancer on the on the mortgage company panel.
My partner and I are intent on selling our home in Chelmsley Wood and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Chelmsley Wood. Having lived in Chelmsley Wood for 5 years we know of no issue. Do we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I'm buying a new build house in Chelmsley Wood with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about the deal as it could adversely affect my loan with the lender. Should I keep quiet?.
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 leasehold apartment up to £235,500 and identified one near me in Chelmsley Wood I like with open areas and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Chelmsley Wood suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
We're new on the property ladder - had an offer accepted, but the agent advised that the vendor will only issue a contract if we instruct the agent's preferred lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor who is familiar with conveyancing in Chelmsley Wood
We suspect that the seller is unaware of this demand. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Chelmsley Wood conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a commission or hit his conveyancing figures set by corporate headquarters.