We are a couple about to sign contracts for a semi detached house in South Petherton. We have hit a problem. Our loan offer with Bank of Ireland expires on 31/7/2025 but the vendors are insisting on a completion date of 4/8/2025. Is it possible to prolong the loan offer?
The best person to address this issue is your solicitors who should assess whether they better off negotiating with the mortgage broker, owner’s solicitors, selling agents or indeed all three based on what has happend in your conveyancing to date.
We hope to to buy with Loughborough BS. We have called around locally but am unable to find a South Petherton conveyancing firm on the Loughborough BS approved list. Can you help?
Feel free to make use of the search tool on this site. Please choose the mortgage company and type South Petherton or your location and you will discover numerous solicitors based in South Petherton or by proximity to you.
I can see plenty of here regarding conveyancing in South Petherton but can you isolate your top tip for choosing the right conveyancer in South Petherton
Do not opt for the lowest South Petherton conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I just bought a house at auction in South Petherton. Conveyancing is necessary. What happens now?
Given that you are now exchanged you now have to hire the services of a conveyancing practitioner soon as you now have a fast approaching a fixed date to complete the deal. All auction property will ordinarily have a bespoke legal set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to hand this to the conveyancer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local South Petherton solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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 South Petherton 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.
Will our conveyancer be raising questions concerning flooding during the conveyancing in South Petherton.
Flooding is a growing risk for solicitors specialising in conveyancing in South Petherton. Plenty of people will acquire a house in South Petherton, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a various checks that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in South Petherton. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to find out if the premises has ever been flooded. In the event that the premises has been flooded in past which is not revealed by the seller, then a purchaser may issue a legal claim for losses as a result of such an misleading reply. A buyer’s conveyancers may also conduct an environmental report. This should indicate whether there is any known flood risk. If so, additional inquiries should be made.
I am looking for a conveyancing lawyer in South Petherton for my home move. Is it possible to review a solicitor's complaints history with the profession’s regulator?
You can find documented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA may recorded telephone calls for training purposes.
What are the common problems that you witness in leases for South Petherton properties?
There is nothing unique about leasehold conveyancing in South Petherton. Most leases are drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall Insurance obligations
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
South Petherton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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Best to be warned whether window replacement or some other significant cost is due shortly to be shared amongst the tenants and will materially impact the level of the maintenance charges or necessitate a one off payment. If a South Petherton lease has no more than 80 years it will impact the value of the property. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have owned the premises for a couple of years before you are entitled to extend the lease. Does the lease include onerous restrictions?