We were just about to exchange contracts for a ground floor flat in Royston. We have hit a stumbling block. Our mortgage offer with Bank of Scotland expires on 3/12/2025 but the vendors are suggesting a completion date of 5/12/2025. Can one extend the loan offer?
The best person to address this question is your conveyancer who is in a position to determine if he or she is better off negotiating with the lender, vendor’s lawyers, selling agents or possibly all parties taking into account the history of your transaction to date.
Why is leasehold purchase conveyancing in Royston costs more?
Royston leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My house in Royston is up for sale and I have accepted an offer. Does the solicitor need to be required to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My wife and I are in the process of viewing apartments in Royston and I am about to put in an offer. Is it best to have a property lawyer on ‘stand by’? I intend to finance via a mortgage with TSB.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are seeking a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
I have paid off my mortgage with Clydesdale. I assume I don't need a Royston solicitor on the Clydesdale panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I have instructed a Royston conveyancing practitioner having made sure that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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. You may wish to consider appointing your own Royston surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm buying my first flat in Royston with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent told me not inform my solicitor about this side-deal as it would impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My partner has recommend that I use his lawyers for conveyancing in Royston. Do I take his guidance?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to get guidance from friends or family who have actually used the conveyancer that you are are thinking of instructing.