We are a couple about to exchange contracts for a garden flat in Elmers End. We encountered a snag. The mortgage offer with Barclays runs out on 21/3/2025 but the sellers are insisting on a completion date of 25/3/2025. Is it possible to extend the loan expiry date?
The best person to deal with your issue is your solicitors who is in a position to calculate whether they corresponding with the mortgage broker, vendor’s representatives, estate agents or conceivably all parties based on the circumstances your transaction to date.
Are the Elmers End conveyancing solicitors identified as being on the Co-operative conveyancing panel, together with their details provided by Co-operative?
Elmers End conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
The Elmers End conveyancing firm that I appointed last week on my house acquisition in Elmers End have without warning closed. I chose them because I had to have a lawyer on the TSB conveyancing panel and my previous Elmers End lawyer was not. I issued them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I have been on the look out for a flat up to £235,500 and found one round the corner in Elmers End I like with open areas and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Elmers End for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
How easy is it to switch conveyancer as I need to find one who is on the The Mortgage Works conveyancing panel. I instructed a high street conveyancing solicitor in Elmers End five minutes from me but the firm is not approved by The Mortgage Works
It would be our pleasure to help you select a conveyancing solicitor in Elmers End on the The Mortgage Works panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Elmers End. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Elmers End.
Am I better off to instruct a Elmers End conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can perform the legal work however his firm is located over three hundred kilometers away.
The primary upside of using a high street Elmers End conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and apply pressure on them where appropriate. Having local Elmers End know how is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that should trump using an unknown Elmers End conveyancing lawyer just because they are round the corner.