We were just about to sign contracts for a property in St James. We encountered a stumbling block. The mortgage offer with The Royal Bank of Scotland runs out on 14/4/2025 but the owners are insisting on a completion date of 16/4/2025. Can one prolong the loan offer?
The person best placed to address this question is your lawyer who will hopefully determine if they corresponding with the mortgage broker, vendor’s solicitors, property agents or conceivably all three given what has happend in your conveyancing to date.
Finally the sale completed on my house in St James last October but my buyer keeps texting me to moan that her lawyer needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
After completion of your house sale your solicitor should forward the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Where relevant, your lawyer must also evidence that the mortgage has been discharged to the purchasers lawyers. There is unlikely to be post completion formalities just for conveyancing in St James.
I require expedited conveyancing in St James as I have a deadline to complete within one month. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to do searches although no solicitor would advise that you don't. Drawing on our experience of conveyancing in St James the following are instances of issues that can arise and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
I have been on the look out for a ground for flat up to £305k and identified one near me in St James I like with open areas and transport links nearby, the downside is that it only has 49 years on the lease. There is not much else in St James suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Is it possible to transfer to a new solicitor as I need to appoint a firm on the National Westminster Bank conveyancing list. I instructed a high street conveyancing solicitor in St James five minutes from me but he is not approved by National Westminster Bank
We will our best to assist in finding you a conveyancing solicitor in St James on the National Westminster Bank panel. Please note that the conveyancers that we on the directory do not pay us a referral fee if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in St James. In utilising search facility on this site, you can contrast costs for conveyancing solicitors in St James and beyond.
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in St James. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a St James conveyancing firm who can help.
An example of a Lease Extension case for a St James flat is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired term was 56 years.
Are there common deficiencies that you witness in leases for St James properties?
There is nothing unique about leasehold conveyancing in St James. All leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. 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 A duty to insure the building
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Skipton Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.