We are about to exchange contracts for a semi detached house in North Kensington. We encountered a problem. Our loan offer with Leeds Building Society expires on 24/3/2026 but the vendors are putting forward a completion date of 26/3/2026. Can one prolong the loan expiry date?
The person best placed to deal with your concern is your solicitors who is in a position to assess if they better off negotiating with the lender, owner’s solicitors, selling agents or indeed all parties taking into account the circumstances your transaction to date.
Can you explain why leasehold purchase conveyancing in North Kensington is more expensive?
In summary, leasehold conveyancing in North Kensington and elsewhere usually involve more hours of investigation compared to freehold transactions. This includes reviewing the lease, communicating with the landlord about the service of applicable notices, securing up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
Are there restrictive covenants that are commonly picked up during conveyancing in North Kensington?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in North Kensington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in North Kensington differ for new build properties?
Most buyers of new build or newly converted property in North Kensington approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in North Kensington typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in North Kensington or who has acted in the same development.
I need to find a conveyancing solicitor for freehold conveyancing in North Kensington. I happened to chance upon a site which appears to be the perfect solution If it is possible to get all formalities done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
At what stage do I cover the costs of stamp duty chargeable for my purchase in North Kensington?
The majority of conveyancing practitioners tend to fill out a stamp duty return for you as part of your North Kensington purchase transaction for you to sign. After completion your lawyer will submit your STL Return Form to the Tax Authorities and - as long as they have the funds - discharge any tax bill due on your behalf.