We are a couple about to exchange contracts for a property in New Mills. We have hit a stumbling block. Our loan offer with Birmingham Midshires expires on 13/2/2025 but the sellers are putting forward a completion date of 17/2/2025. Is it possible to extend the loan expiry date?
The best person to address this concern is your conveyancer who will determine whether he or she is should be discussing with the mortgage broker, owner’s lawyers, property agents or conceivably all three taking into account the circumstances your transaction as of today.
It is is a decade since I purchased my home in New Mills. Conveyancing lawyers have now been appointed on the sale but I can't track down my title deeds. Is this a major issue?
Don’t worry too much. First there is a chance that the deeds will be with your mortgage company or they may be in the possession of the solicitor who oversaw your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in New Mills relates to registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
I am buying a terraced house in New Mills. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in New Mills you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in New Mills.
What can a local search reveal regarding the property we're purchasing in New Mills?
New Mills conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search plays an important role in many a New Mills conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I'm buying my first flat in New Mills with a mortgage from Halifax. The developers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative told me not reveal to my lawyer about the side-deal as it will affect my mortgage 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 am looking for a flat up to £195,000 and found one close by in New Mills I like with open areas and railway links nearby, however it's only got 52 years on the lease. I can't really find anything else in New Mills for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan that many years may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.