We are about to exchange contracts for a semi detached house in St Pancras. We encountered a problem. Our loan offer with Nationwide Building Society expires on 9/12/2025 but the sellers are putting forward a completion date of 11/12/2025. Can one prolong the mortgage expiry date?
The best person to deal with your concern is your conveyancer who is in a position to determine whether he or she is better off negotiating with the mortgage company, vendor’s lawyers, estate agents or possibly all parties taking into account the circumstances your transaction as of today.
My relative recommended that where I am purchasing in St Pancras I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard St Pancras conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about St Pancras around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, St Pancras Education with maps and statistics, Local Amenities and other useful information regarding St Pancras.
I'm buying my first flat in St Pancras benefiting from help to buy. The developers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not inform my solicitor about the extras as it would adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it simple use your search facility to find a conveyancing practitioner in St Pancras on the panel for my lender?
1st pick a bank such as Accord Mortgages Ltd, The Mortgage Works or Aldermore then specify your preferred area for instance St Pancras. Conveyancing firms in St Pancras and further afield will then be identified.
I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in St Pancras. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in St Pancras are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in St Pancras in which case you should be looking for a St Pancras conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in St Pancras. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension decision for a St Pancras residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 66.8 years.
At what stage do I cover the costs of the Stamp Duty Land Tax payable for my St Pancras property purchase?
The conveyancing practitioner should fill out a Land Transaction Return Form for you as part of your St Pancras conveyancing transaction for you to sign. On completion your conveyancing practitioner will submit your Land Transaction application to the Inland Revenue and - assuming they have the funds - discharge any Stamp Duty liability for you.