We are a couple about to sign contracts for a garden flat in Plympton. We have hit a problem. The loan offer with Lloyds TSB Bank runs out on 28/5/2025 but the owners are putting forward a completion date of 30/5/2025. Can one extend the mortgage expiry date?
The person best placed to address this issue is your solicitors who is in a position to calculate whether he or she is should be discussing with the mortgage company, vendor’s solicitors, estate agents or possibly all parties given the history of your house move to date.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather use a specialised conveyancing solicitor in Plympton?
You should check but the the probability is that appoint one of their panel solicitors if you accept the "fee-free" deal. Speak to the mortgage company to check if they allow a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Plympton.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Plympton 10 years ago have long since closed. What are my options?
Gone are the days when you need to have the physical deeds to prove you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
I'm purchasing my first flat in Plympton with a loan from Yorkshire Building Society. The builders refused to reduce the amount so I negotiated £7000 of extras instead. The estate agent told me not reveal to my solicitor about the deal as it would impact my loan with Yorkshire Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We're novice buyers - agreed a price, but the selling agent told us that the owners will only go ahead if we appoint their preferred conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family conveyancer accustomed to conveyancing in Plympton
It is improbable the owners are driving this. Should the seller desire ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make sure they comprehend that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to instruct your preferred Plympton conveyancing lawyers - rather thanthe ones that will provide their estate agent a referral fee or meet his conveyancing thresholds pre-set by head office.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Plympton. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Plympton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Plympton so you should seriously consider looking for a Plympton conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.
Plympton Leasehold Conveyancing - A selection of Queries before Purchasing
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How much is the annual service fee and ground rent? In the main the cost for major works are not wrapped into the service charges, albeit that there some managing agents in Plympton ask leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for larger repairs or maintenance.