We were just about to exchange contracts for a property in Oundle. We have hit a snag. Our loan offer with The Royal Bank of Scotland runs out on 4/12/2025 but the vendors are suggesting a completion date of 8/12/2025. Can one prolong the mortgage offer?
The best person to address this concern is your solicitors who will hopefully determine if they should be discussing with the mortgage company, owner’s solicitors, estate agents or indeed all three given what has gone on in your transaction to date.
What can a local search reveal concerning the house my wife and I buying in Oundle?
Oundle conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search is essential in every Oundle conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications applicable 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 am looking for a flat up to £235,500 and found one round the corner in Oundle I like with open areas and transport links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Oundle suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I have been recommended by a few property agents in Oundle to get a quote from a conveyancer on your site. What’s the financial incentive for Estate Agents to promote your site over another?
We don’t make any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I need to appoint a conveyancing solicitor for purchase conveyancing in Oundle. I've chance upon a web site which looks to be the ideal offering If it is possible to get all formalities completed via email that would be ideal. Do I need to be wary? What should out be looking out for?
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?
I have been recommended a conveyancing solicitor in Oundle. I I would like to check if they are on the lender's approved list of lawyers. Could you or the lender confirm if they are on the panel?
It’s a good idea call the conveyancer to enquire if they are on the lender's approved list. If that does not help call us and we can investigate and revert. Should the firm not be on the bank panel we we can help find a quality conveyancing solicitor in Oundle on the approved list for your lender.