We were just about to exchange contracts for a garden flat in Newbridge. We encountered a stumbling block. The loan offer with The Royal Bank of Scotland runs out on 18/3/2025 but the owners are suggesting a completion date of 20/3/2025. Can one extend the loan offer?
The best person to deal with your question is your conveyancer who should calculate whether they should be discussing with the lender, vendor’s representatives, selling agents or indeed all parties given the history of your transaction to date.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Newbridge so that I can pop in to their offices if necessary.
Nowadays approved lawyers for banks conduct their work via the post, e-mail or over phone calls. This means that they can undertake the legal work for your home move regardless of where you live in England or Wales. That being said you can check if you can still book an appointment to visit conveyancing lawyer if you prefer.
I am assisting my niece sell her property in Newbridge. Does the conveyancing solicitor commission the EPC or it is for the owner to coordinate?
After the abolition of Home Packs, energy performance certificates was maintained a mandatory part of selling a house. An EPC should be commissioned before the property is put on the market. It is not as aspect of the sale process that law firms ordinarily organise. Where you are using a Newbridge conveyancing practitioner they may be able to arrange energy performance certificates given their relationships with long established local providers
I am aiming to move home in February. Will my conveyancing solicitor liaise with the removal company on the completion day. Incidentally, can you suggest a removal company in Newbridge. Conveyancing lawyer was found before I stumbled across your website.
On the afternoon of completion you can pick up the keys from the estate agent however this should only be done once the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be released. You will need to tell the removal men that you are ready to move in. We are not in a position to suggest a specific removal organisation but can assist you in finding a conveyancing in Newbridge or a solicitor that specialises in conveyancing in Newbridge.
I can not work out if my bank requires a lease extension. I have called my Newbridge building society branch on various occasions and was informed it wasn't a problem and they will lend. My Newbridge conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I have no idea who is right.
The solicitor has to follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Is it necessary to take out insurance to address the risk of chancel repairs when purchasing a house in Newbridge?
Unless a prior acquisition of the house completed post 12 October 2013 you can expect conveyancing practitioners delivering conveyancing in Newbridge to continue to propose a a chancel search and or chancel repair liability policy.
I have been on the look out for a flat up to £195,000 and found one near me in Newbridge I like with a park and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Newbridge for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass 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 matter.
Last July I purchased a leasehold house in Newbridge. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a 1 bedroom flat in Newbridge, conveyancing was carried out May 1999. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Newbridge with a long lease are worth £222,000. The ground rent is £50 per annum. The lease terminates on 21st October 2095
With 70 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.