We were just about to exchange contracts for a garden flat in Ilfracombe. We have hit a stumbling block. The mortgage offer with Coventry Building Society expires on 29/12/2025 but the owners are suggesting a completion date of 31/12/2025. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your solicitors who should assess whether he or she is should be discussing with the mortgage broker, seller’s lawyers, selling agents or possibly all three given the history of your conveyancing as of today.
Why do I have to pay up front when it comes to conveyancing in Ilfracombe?
If you are buying a property in Ilfracombe your lawyer will request that you to provide 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. When the down payment is as part of the total price then this should be needed immediately before contracts are exchanged. Any further balance that is due will be payable shortly before completion.
I require expedited conveyancing in Ilfracombe as I am under an ultimatum to sign on the dotted line within one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to have searches conducted although no law firm would suggest that you don't. With plenty of history conveyancing in Ilfracombe the following are examples of issues that can appear and therefore affect market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Ilfracombe I like with a park and transport links in the vicinity, the downside is that it only has 61 remaining years left on the lease. There is not much else in Ilfracombe suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the remaining unexpired lease term will be an issue. Reduce the price by the expected 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 could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
As co-executor for the estate of my grandfather I am disposing of a property in Cardiff but live in Ilfracombe. My lawyer (based 250 kilometers awayrequires that I execute a statutory declaration prior to completion. Could you suggest a conveyancing lawyer in Ilfracombe to attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Ilfracombe based
Much to my surprise my solicitor in Ilfracombe has requested from me proof of ID documents asserting that this is part of his retainer as a conveyancer on the bank Solicitor panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Ilfracombe conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements