We are about to exchange contracts for a freehold house in Oakley. We have hit a problem. Our loan offer with Yorkshire Building Society runs out on 2/7/2025 but the owners are insisting on a completion date of 4/7/2025. Can one extend the loan offer?
The best person to deal with your issue is your lawyer who will determine whether he or she is better off negotiating with the lender, vendor’s lawyers, selling agents or conceivably all three given what has gone on in your transaction as of today.
Is there a reason why leasehold purchase conveyancing in Oakley costs more?
Oakley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
What happens if my solicitor is removed from the Principality Solicitor panel ahead of completing my conveyancing in Oakley?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I require fast conveyancing in Oakley as I am under pressure to complete within one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a cash buyer you have the choice not to have searches carried out although no solicitor would recommend that you don't. With plenty of history conveyancing in Oakley the following are instances of issues that can show up and therefore impact future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Oakley is the location of the property. Is there any advice you can give?
Flying freeholds in Oakley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Oakley you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Oakley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I choose a Oakley conveyancing solicitor based in the location that I am hoping to buy? An old friend can deal with the conveyancing however her office is over three hundred kilometers drive away.
The benefit of a high street Oakley conveyancing firm is that you can visit the firm to execute paperwork, hand in your ID and pester them where appropriate. Having local Oakley know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and they were happy that should outweigh using an unknown Oakley conveyancing solicitor solely due to them being Oakley based.