We are a couple about to exchange contracts for a garden flat in Par. We have hit a stumbling block. Our loan offer with Norwich and Peterborough Building Society runs out on 20/3/2026 but the owners are insisting on a completion date of 24/3/2026. Is it possible to extend the mortgage offer?
The person best placed to deal with your issue is your lawyer who is in a position to determine whether they corresponding with the mortgage company, owner’s solicitors, property agents or conceivably all three taking into account the history of your conveyancing to date.
We are purchasing a purpose built flat in Par with a homeloan from Skipton Building Society.We use our Par conveyancing practitioner but Skipton Building Society advised that he's not listed on their approved list of firms. It seems we have no choice but to instruct a Skipton Building Society panel firm or keep our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you contains various provisions, a common one being that conveyancers must be on the Skipton Building Society approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
Will our solicitor be asking questions about flooding as part of the conveyancing in Par.
Flooding is a growing risk for solicitors specialising in conveyancing in Par. There are those who purchase a property in Par, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Par. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to determine whether the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the owner, then a buyer could bring a claim for damages stemming from an inaccurate reply. A buyer’s solicitors may also conduct an enviro search. This should reveal whether there is any known flood risk. If so, additional investigations should be carried out.
I acquired my flat on 10 October and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Par said it should be registered inside ten days. Are titles in Par uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Par registration formalities. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether it is in order and whether the Land registry communicate with any other parties. Currently roughly 80% of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Historically registration occurs once the purchaser is living at the property thus an expedited registration is not always primary concern yet if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I need to retain a conveyancing solicitor for residential conveyancing in Par. I happened to stumble upon a web site which appears to be the perfect solution If it is possible to get all the legals completed via email that would be ideal. Should I be wary? 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?
What are your top tips when it comes to choosing a Par conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Par conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Par conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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How many lease extensions have they completed in Par in the last year? If they are not ALEP accredited then why not?
I purchased a studio flat in Par, conveyancing having been completed May 2002. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Par with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2092
You have 66 years left to run the likely cost is going to range between £12,400 and £14,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.