We were just about to sign contracts for a garden flat in Spennymoor. We have hit a stumbling block. Our loan offer with HSBC Bank runs out on 7/8/2025 but the sellers are insisting on a completion date of 11/8/2025. Is it possible to prolong the loan offer?
The best person to deal with your issue is your lawyer who will calculate if they corresponding with the mortgage broker, vendor’s conveyancers, estate agents or indeed all three given the history of your house move to date.
We see that you have a post code search directory identifying firms on the Nationwide conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Spennymoor?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Spennymoor.
When it comes to mortgage companies such as Kent Reliance, do Spennymoor property lawyers face a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have a mortgage with Lloyds for my property in Spennymoor. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention prior to letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
I am due to exchange contracts on my apartment. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Kent Reliance are being difficult. The Spennymoor solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I require quick conveyancing in Spennymoor as I am under an ultimatum to sign on the dotted line inside 4 weeks. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you are at liberty not to have searches carried out although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Spennymoor the following are instances of issues that can show up and adversely impact the marketability of the property: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
The deeds to my house are lost. The conveyancers who handled the conveyancing in Spennymoor 10 years ago no longer exist. What are my options?
As long as the title is registered the information relating to your ownership will be held by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, identify your house and secure current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am attracted to a two maisonettes in Spennymoor which have about 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Spennymoor. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area.
Spennymoor Leasehold Conveyancing - A selection of Queries before Purchasing
-
What is the name of the managing agents? The best form of lease structure is a share of the freehold. In this scenario the tenants benefit from being in charge if their destiny and even though a managing agent is often employed if it is bigger than a house conversion, the managing agent retained by the leaseholders.