We are a couple about to sign contracts for a property in Harold Park. We have hit a snag. The mortgage offer with Platform Home Loans Ltd runs out on 23/1/2025 but the vendors are putting forward a completion date of 27/1/2025. Can one prolong the mortgage offer?
The best person to address this issue is your conveyancer who should assess whether he or she is better off negotiating with the lender, owner’s representatives, property agents or possibly all three taking into account what has gone on in your transaction as of today.
I am about to put a bid on a leasehold apartment in Harold Park. The selling agents tell me that it is the norm for flats in Harold Park to have less than 75 years remaining. I am expecting a mortgage with Accord Mortgages. Is this going to be a problem if the lease has 72 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/11/2024 the requirements read as follows :
Is there a list of Aldermore panel solicitors in Harold Park on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. A small selection of banks make their panel listings available on the web. Where you are in need of a Harold Park conveyancing practitioner on the Aldermore please make the most of our tool.
I have decided to exercise my right to buy my property in Harold Park off the council. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
Barclays have agreed my mortgage in principle, my offer on a apartment in Harold Park has been agreed to, what are the next steps?
The property agent will need to be advised as to your lawyer's details (ensure that the property lawyers are on the lender’s approved list). Contact Barclays or the financial adviser and finalise any appropriate paperwork. Barclays will sellect a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Barclays will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Harold Park.
Should my solicitor be asking questions about flooding as part of the conveyancing in Harold Park.
The risk of flooding is if increasing concern for solicitors dealing with homes in Harold Park. There are those who buy a property in Harold Park, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a numerous searches that can be undertaken by the purchaser or by their solicitors which will give them a better appreciation of the risks in Harold Park. The standard completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to discover whether the property has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a purchaser may commence a legal claim for losses stemming from an misleading reply. A purchaser’s conveyancers should also commission an enviro report. This will higlight if there is any known flood risk. If so, further inquiries will need to be carried out.
How does conveyancing in Harold Park differ for new build properties?
Most buyers of new build property in Harold Park come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Harold Park usually acquire the site, 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 property lawyers 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 Harold Park or who has acted in the same development.
I am looking into buying my first house which is in Harold Park and I am already nervous. I couldn't find anything specific about Harold Park. Conveyancing will be needed in due course but do you know about the Harold Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Harold Park. In the meantime here are some basic statistics that we found