We are about to sign contracts for a property in Shenley Brook End. We encountered a stumbling block. Our loan offer with Nationwide Building Society runs out on 1/10/2025 but the vendors are putting forward a completion date of 3/10/2025. Can one extend the loan offer?
The person best placed to deal with your issue is your conveyancer who is in a position to assess if he or she is better off negotiating with the lender, owner’s representatives, property agents or possibly all three based on the history of your transaction to date.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Shenley Brook End?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What will a local search tell me regarding the property my wife and I purchasing in Shenley Brook End?
Shenley Brook End conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search plays an important role in most Shenley Brook End conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
The deeds to my home can not be found. The solicitors who conducted the conveyancing in Shenley Brook End 10 years ago are no longer around. What do I do?
You no longer need to have the physical official documentation to prove you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
Am I better off to choose a Shenley Brook End conveyancing solicitor based in the location that I am purchasing? An old friend can deal with the legal formalities however his firm is located 300kilometers drive away.
The primary upside of using a local Shenley Brook End conveyancing practice is that you can visit the firm to sign documents, deliver your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were content that must trump using an unfamiliar Shenley Brook End conveyancing solicitor just because they are local.
Should I cancel my mortgage payments with Lloyds once a completion date for my home sale in Shenley Brook End has been agreed?
No, you must keep meeting any mortgage sums to Lloyds until the mortgage is paid off from the proceeds of sale as part of your Shenley Brook End conveyancing.