We are about to exchange contracts for a property in Roade. We encountered a problem. The loan offer with Nationwide Building Society runs out on 25/9/2025 but the vendors are putting forward a completion date of 29/9/2025. Is it possible to extend the loan offer?
The person best placed to address this issue is your lawyer who will calculate if he or she is should be discussing with the lender, seller’s conveyancers, estate agents or indeed all parties given what has gone on in your transaction as of today.
Can you explain why leasehold purchase conveyancing in Roade is more expensive?
Roade leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am buying a flat and require a conveyancing solicitor in Roade who is on the Norwich and Peterborough Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Norwich and Peterborough Building Society in certain locations such as Roade. We dont recommend any particular firm.
Should my lawyer be raising enquiries regarding flooding during the conveyancing in Roade.
The risk of flooding is if increasing concern for solicitors dealing with homes in Roade. There are those who purchase a property in Roade, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Roade. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to find out if the property has ever been flooded. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer could issue a legal claim for losses resulting from an incorrect reply. The buyer’s lawyers should also carry out an environmental report. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries will need to be made.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Roade I like with a park and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. There is not much else in Roade suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I am using a search engine for the term conveyancing in Roade it reveals many solicitorslocally. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?
The ideal way of seeking the right conveyancer is via trusted referral, so seek the counsel of colleagues and relatives who have purchased a property in Roade or a respected estate agent or financial adviser. Fees for conveyancing in Roade differ, so it's a good idea to secure at least four estimates from different law firms. Make sure that you know that the charges are assured not to increase.