We are a couple about to sign contracts for a freehold house in Clun. We encountered a snag. Our loan offer with Skipton Building Society runs out on 1/10/2025 but the vendors are putting forward a completion date of 3/10/2025. Can one prolong the loan offer?
The person best placed to address this issue is your lawyer who will calculate whether they better off negotiating with the mortgage company, seller’s solicitors, estate agents or indeed all three based on the history of your transaction to date.
As someone with no idea as to the Clun conveyancing process what’s your top tip you can give me for the legal transfer of property in Clun
Not many law firms or advisers will tell you this but conveyancing in Clun and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of opportunity for confrontation between you and other parties involved in the transaction. For example, the vendor, property agent and sometimes your lender. Selecting a law firm for your conveyancing in Clun should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose interest is to look after your legal interests and to protect you.
Every so often a potential adversary may attempt to convince you that it is in your interests to do things their way. For example, the estate agent may claim to be assisting by claiming that your solicitor is dragging his heels. Or your mortgage broker may advise you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Clun?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Clun. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Clun differ for new build properties?
Most buyers of new build residence in Clun approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Clun tend to purchase 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 Clun or who has acted in the same development.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Clun. Conveyancing lawyers have not yet been instructed, but I have recently received a quarterly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal given that all rents and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a 2 bed flat in Clun, conveyancing having been completed November 1999. 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? Corresponding flats in Clun with a long lease are worth £185,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2085
With 60 years unexpired we estimate the price of your lease extension to be between £20,000 and £23,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
How easy is it to change a solicitor as I need to find a Clun based firm who is on the bank conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to commence the conveyancing and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Clun that you're thinking of instructing.