We were just about to sign contracts for a ground floor flat in Preston. We encountered a stumbling block. Our mortgage offer with National Westminster Bank expires on 11/4/2025 but the sellers are putting forward a completion date of 15/4/2025. Is it possible to extend the mortgage offer?
The best person to deal with your concern is your solicitors who will determine whether he or she is corresponding with the mortgage broker, vendor’s solicitors, property agents or indeed all three given the circumstances your house move as of today.
Are all Preston Conveyancing Quality Solicitors on the Nottingham conveyancing list of approved solicitors?
Some major lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
Can you point me to a directory of Nottingham panel conveyancers in Preston on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings visible on the web. Where you are looking for a Preston lawyer on the Nottingham please make the most of our tool.
After shopping around on the internet I have found a Preston lawyer having checked that they are on the Clydesdale conveyancing panel. Does my lawyer arrange the survey of the property?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Preston postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Preston.
How does conveyancing in Preston differ for new build properties?
Most buyers of new build premises in Preston contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Preston typically purchase the real estate, 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 Preston or who has acted in the same development.
Given that I will soon spend hundreds of thousands of pounds on a two bedroom apartment in Preston I would like to have a conversation with the lawyer concerning thehouse move in advance of giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your property ownership legalities in Preston.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in Preston should be the amount on the final invoice that you end up paying.
I've recently bought a leasehold flat in Preston. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Preston. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension case for a Preston flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The unexpired term as at the valuation date was 74 years.
At long last our conveyancing in Preston completes on Friday, but the person I am buying off wants to vacate on the Saturday afternoon. Can I agree to this?
It is not possible to complete on a Saturday due to the bank systems aren't operational.