We are a couple about to sign contracts for a ground floor flat in Goodwick. We have hit a problem. The loan offer with Clydesdale runs out on 21/8/2026 but the sellers are insisting on a completion date of 25/8/2026. Is it possible to extend the loan offer?
The person best placed to deal with your concern is your conveyancer who will hopefully determine whether they should be discussing with the bank, vendor’s representatives, property agents or conceivably all three based on what has gone on in your transaction to date.
Do conveyancers ask for money up-front for my conveyancing in Goodwick?
Where you are retaining lawyers for conveyancing in Goodwick your lawyer will request that you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the total price then this should be required shortly ahead of exchange of contracts. The final balance that is needed will be payable a few days ahead of the completion date.
My bid for a property was accepted at auction in Goodwick. Conveyancing is required. What is next?
Now that you have to all intents and purposes signed on the dotted line you now have to hire the services of a conveyancing solicitor soon as you now have a pending a fixed date to complete the purchase. An auction property should have a bespoke legal pack. This will include most,if not all of the paperwork that your lawyer will need. If you have purchased leasehold property the auction pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in order to complete on the on the contractual date .
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Goodwick. Do I receive the keys to the property on completion from my conveyancer? If so, I will appoint a local conveyancing solicitor in Goodwick?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's lawyers, and once they have received this, you should be called to collect the keys from the property Agents and move into your new home. Usually this happens early afternoon.
I recently had an offer accepted on a house in Goodwick. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £175. A couple of days later, the solicitor called me to say that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am downsizing from our property in Goodwick and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Goodwick. Having lived in Goodwick for 4 years we know of no issue. Should we contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must 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 health insurance to cover that same illness)
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Goodwick I like with a park and transport links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Goodwick in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I have just started marketing my basement apartment in Goodwick. Conveyancing has not commenced, but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and maintenance invoices should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents 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 inherited a 1st floor flat in Goodwick, conveyancing having been completed October 2003. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Goodwick with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2085
With 59 years left to run the likely cost is going to span between £20,900 and £24,200 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.