We are a couple about to exchange contracts for a freehold house in Seaton. We encountered a stumbling block. The loan offer with Bank of Scotland expires on 18/6/2026 but the vendors are insisting on a completion date of 22/6/2026. Is it possible to extend the loan expiry date?
The best person to address this concern is your conveyancer who is in a position to calculate whether he or she is corresponding with the lender, vendor’s representatives, selling agents or possibly all parties taking into account the circumstances your transaction to date.
It is is a decade since I bought my house in Seaton. Conveyancing solicitors have just been retained on the sale but I am unable to track down my title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a possibility that the deeds will be with the lender or they may be in the possession of the solicitor who oversaw your purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Seaton relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
Various web forums that I have come across warn that are the main reason for delay in Seaton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Seaton.
I am looking for a leasehold apartment up to £305k and identified one round the corner in Seaton I like with amenity areas and transport links nearby, however it only has 52 years on the lease. I can't really find anything else in Seaton suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
We are one month into a residential purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Seaton. I am not happy. Could you you assist me in finding new solicitors?
A conveyancer would need to be really poor in order to consider diss instructing them. Has the mortgage been issued? If so you will need to advise them of the new conveyancer and have the offer are re-sent. Your conveyancer should be on the banks approved list to avoid escalating fees and frustration. That should be your starting point. The find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Seaton
I dont have enough spare money to pay a 10% deposit on my apartment purchase in Seaton , but I am anxious proceed. What can I do?
One option is to try and agree a lesser deposit. Many sellers will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second