We are a couple about to sign contracts for a semi detached house in Hoyland. We encountered a problem. The loan offer with TSB runs out on 10/1/2025 but the owners are suggesting a completion date of 14/1/2025. Is it possible to prolong the mortgage offer?
The person best placed to deal with your issue is your lawyer who is in a position to calculate if they corresponding with the lender, owner’s solicitors, estate agents or possibly all parties based on what has gone on in your transaction to date.
How does conveyancing in Hoyland differ for newly converted properties?
Most buyers of new build premises in Hoyland contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Hoyland tend to acquire the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Hoyland or who has acted in the same development.
What tools are available to search for a Hoyland law firm on the TSB conveyancing panel? I drive a motor bike and am happy to travel upto 25kilometers to meet the solicitor.
You can use the tool on this page. Please pick a lender and your location and you will see a number of Hoyland conveyancing lawyers locally. We have detailed some Hoyland conveyancing firms at the bottom of this page and you can call them to see whether they are on the TSB approved list
My husband and I are novice buyers - had an offer accepted, but the selling agent told us that the vendor will only go ahead if we appoint the agent's preferred solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Hoyland
It is highly unlikely the sellers are driving this. Should the vendor want ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are genuine purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Hoyland conveyancing solicitors - as opposed tothe ones that will provide the negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by corporate headquarters.
I am a negotiator for a long established estate agent office in Hoyland where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Hoyland conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Hoyland Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Where a Hoyland lease has less than eighty years it will affect the marketability of the flat. Check with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will be required to have been the owner of the premises for a couple of years before you are legally able to exercise a lease extension. How many years are left on the lease? Be sure to investigate if there are any onerous prohibitions in the lease. For instance it is fairly common in Hoyland leases that pets are not permitted in in a block in Hoyland. If you like the propertyin Hoyland however your dog can’t move with you then you will be presented with a hard compromise.
Would local authority consent be necessary to split a house into a couple of flats in Hoyland? This has been done to a property opposite to my home in Hoyland and was unaware of it happening until the works were done.
Planning Consent yes. Building Reg Approval yes.