We were just about to sign contracts for a ground floor flat in Mountsorrel. We encountered a problem. Our loan offer with Birmingham Midshires runs out on 8/7/2025 but the sellers are putting forward a completion date of 10/7/2025. Can one prolong the mortgage offer?
The person best placed to address this question is your solicitors who should assess whether he or she is better off negotiating with the mortgage company, vendor’s representatives, selling agents or indeed all three given the history of your conveyancing as of today.
How up to date is your database of Mountsorrel solicitors on the Virgin Money conveyancing panel? Do Virgin Money send you an updated list?
Mountsorrel conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
My bid for a property was accepted at auction in Mountsorrel. Conveyancing is necessary. What is next?
Now that you have for in every practical sense signed on the dotted line you must hire the services of a conveyancing solicitor quickly as you will have a fast approaching deadline in which to complete the conveyancing. An auction property will have an associated legal set of papers. This will likely include evidence of title and search results. In the case of leasehold property the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must pass this on to the lawyer working for you ASAP. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
We have agreed to purchase a house in Mountsorrel. A rare aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Lloyds your lawyer must check the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Lloyds where a lease does not satisfy these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Mountsorrel.
After shopping around on the internet I have found a Mountsorrel lawyer having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Mountsorrel postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Mountsorrel.
I require expedited conveyancing in Mountsorrel as I have a deadline to complete inside one month. Thankfully I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are not getting a mortgage you have the choice not to have searches conducted although no law firm would recommend that you don't. With plenty of history conveyancing in Mountsorrel the following are examples of issues that can appear and therefore affect future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
In my capacity as executor for the will of my father I am disposing of a property in Cardiff but reside in Mountsorrel. My lawyer (who is 250 kilometers awayneeds me to sign a stat dec before completion. Could you suggest a conveyancing practitioner in Mountsorrel who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Mountsorrel
I am tempted by the attractive purchase price for a two apartments in Mountsorrel which have in the region of fifty years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.
Leasehold Conveyancing in Mountsorrel - Sample of Questions you should consider before buying
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The best form of lease arrangement is a share of the freehold. In this arrangement the lessees benefit from control and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent is directed by the tenants. Is the freehold owned jointly by the tenants?