We are about to exchange contracts for a property in Seaford. We encountered a snag. Our mortgage offer with Nationwide Building Society expires on 23/12/2024 but the vendors are putting forward a completion date of 27/12/2024. Is it possible to extend the mortgage expiry date?
The person best placed to address this issue is your conveyancer who is in a position to determine if he or she is should be discussing with the bank, owner’s lawyers, selling agents or possibly all three given the history of your transaction as of today.
How does conveyancing in Seaford differ for new build properties?
Most buyers of new build or newly converted property in Seaford come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because developers in Seaford usually buy 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 conveyancing solicitors 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 used to new build conveyancing in Seaford or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Seaford I like with a park and railway links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Seaford suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension 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.
How easy is it to transfer to a new firm as I have to find a firm on the Clydesdale conveyancing list. I had appointed a family conveyancing solicitor in Seaford round the corner but he is not accepted by Clydesdale
It would be our pleasure to assist you select a conveyancing solicitor in Seaford on the Clydesdale panel. Please note that the conveyancers that we on the directory do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Seaford. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Seaford.
Back In 2000, I bought a leasehold house in Seaford. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Seaford who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Seaford conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Seaford Leasehold Conveyancing - Examples of Questions you should ask before buying
-
How is the lease structured? Make sure you discover if the the lease contains any unreasonable restrictions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Seaford. If you like the propertyin Seaford yet your dog can’t make the move with you then you will be presented with a hard compromise. Who is in charge of the block?
I am purchasing a house mortgage free. My solicitor has been handed with two distinct evidence of photo identification, bank statement, endless utility bills. Now he wants a copy from a probate lawyer stating that the money is in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Seaford conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.