We are a couple about to exchange contracts for a leasehold flat in Forest Row. We encountered a snag. Our mortgage offer with Virgin Money runs out on 13/2/2025 but the sellers are suggesting a completion date of 17/2/2025. Is it possible to extend the mortgage offer?
The person best placed to deal with your concern is your solicitors who should calculate whether they better off negotiating with the mortgage broker, seller’s lawyers, property agents or conceivably all three taking into account the circumstances your conveyancing to date.
What is the first thing I need to know regarding purchase conveyancing in Forest Row?
Not many law firms shout this from the rooftops but conveyancing in Forest Row or throughout England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists plenty of opportunity for friction between you and others involved in the legal transfer of property. E.g., the seller, estate agent and even potentially the lender. Choosing a lawyer for your conveyancing in Forest Row is a critical decision as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to look after your legal interests and to keep you safe.
Every so often a third party with a vested interest may try and persuade you that you should follow their advice. For instance, the selling agent may claim to be assisting by claiming that your solicitor is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties in the conveyancing process.
I have been told that property searches are the primary cause of delay in Forest Row house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Forest Row.
My wife and I purchased a 4 bedroom Edwardian house in Forest Row. Conveyancing solicitor acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Forest Row and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Forest Row is where the house is located. Is there any guidance you can impart?
Flying freeholds in Forest Row are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Forest Row you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Forest Row may decide 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 residence.
My company is hoping to lease a unit on the high street. Can you recommend solicitors offering no-move-no charges for non-domestic conveyancing in Forest Row for under 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Forest Row, including the sale and purchase of businesses as well as simply property. Whether you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we will find you the right lawyer. Regarding the fees these will vary based on the structure and terms of the proposed transaction. Let us have your details or call us so that we can furnish you with a detailed commercial conveyancing quote.