We were just about to sign contracts for a garden flat in Hayling Island. We encountered a problem. The loan offer with Birmingham Midshires expires on 16/3/2026 but the owners are insisting on a completion date of 18/3/2026. Can one extend the mortgage expiry date?
The best person to address this question is your solicitors who is in a position to assess if he or she is better off negotiating with the lender, vendor’s conveyancers, estate agents or conceivably all three given the history of your transaction as of today.
I have been told that property searches are a common cause of delay in Hayling Island conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Hayling Island.
I used Wolstenholmes a few years past for my conveyancing in Hayling Island. I now require my papers however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hayling Island of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Hayling Island with a mortgage from Virgin Money. The developers refused to move on the price so I negotiated 6k of additionals instead. The house builders rep told me not to tell my conveyancer about the side-deal as it may jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to retain a conveyancing solicitor for freehold conveyancing in Hayling Island. I happened to chance upon a web site which appears to be the perfect answer If there is a chance to get all this stuff completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I wish to sublet my leasehold apartment in Hayling Island. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease dictates the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Hayling Island do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I own a basement flat in Hayling Island, conveyancing having been completed in 1998. Can you work out an approximate cost of a lease extension? Equivalent flats in Hayling Island with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2091
With 65 years left to run the likely cost is going to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you 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 issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.