We are about to exchange contracts for a leasehold flat in Riding Mill. We encountered a stumbling block. The mortgage offer with Barclays expires on 13/2/2025 but the sellers are suggesting a completion date of 17/2/2025. Is it possible to prolong the loan offer?
The person best placed to deal with your concern is your solicitors who will determine if they better off negotiating with the bank, seller’s conveyancers, property agents or indeed all parties given what has gone on in your house move as of today.
Have just purchased a probate house at auction in Riding Mill. Conveyancing is needed. What happens now?
Given that you have now legally committed yourself to purchase you should hire the services of a conveyancing practitioner as a matter of urgency as you now have a tight deadline in which to complete the conveyancing. All auction property will have a bespoke legal set of papers. This will include evidence of title and search results. If you have purchased leasehold premises the legal papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must pass this on to the conveyancer working for you ASAP. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
We have agreed to purchase a house in Riding Mill. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
As you are obtaining a mortgage with Principality your lawyer must check the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Principality. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Principality where a lease does not comply with these requirements. The provisions relate to the installation of panels on properties nationwide and is not isolated to Riding Mill.
I am currently in the process of buying my council flat in Riding Mill. I have a mortgage agreed with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Will commercial conveyancing searches disclose planned roadworks that could impact a commercial premises in Riding Mill?
Its becoming the norm that commercial conveyancing solicitors in Riding Mill will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Riding Mill. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Riding Mill.
For each commercial conveyancing transaction in Riding Mill it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Riding Mill commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Riding Mill.
3 months have elapsed since my purchase conveyancing in Riding Mill concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Riding Mill with a loan from Lloyds TSB Bank. The developers refused to reduce the price so I negotiated 6k of extras instead. The estate agent suggested that I not inform my solicitor about this extras as it will affect my mortgage with Lloyds TSB Bank. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, no chain conveyancing. Riding Mill is the location of the property. Is there any advice you can give?
Flying freeholds in Riding Mill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Riding Mill you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Riding Mill may ascertain 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 residence.