We are about to sign contracts for a semi detached house in Kingsdown. We encountered a stumbling block. Our mortgage offer with Barclays expires on 23/5/2025 but the vendors are suggesting a completion date of 28/5/2025. Is it possible to extend the loan expiry date?
The person best placed to deal with your issue is your conveyancer who should calculate if he or she is better off negotiating with the mortgage broker, vendor’s solicitors, estate agents or conceivably all parties taking into account what has happend in your conveyancing to date.
I'm the single recipient of my late mum's will with all property in now in my sole name, including the my former home in Kingsdown. The Kingsdown property was put into my name in February. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the property in February. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How sensible a view lenders take of it, depend on the bank as this requirement primarily exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
Can I be sure that the Kingsdown conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Kingsdown seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your transaction.
My wife and I are in the process of looking at flats in Kingsdown and I am now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with HSBC.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are taking out a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kingsdown. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Kingsdown
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Kingsdown I like with amenity areas and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Kingsdown for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I have been recommended by two or three local selling agents in Kingsdown to choose a solicitor using your seach tool. What’s the financial incentive for Estate Agents to promote your services rather than another?
We refuse to make any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor in Kingsdown for my remortgage. Can I check a firm’s record with the legal regulator?
Members of the public can find published Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes monitor call for training purposes.