We were just about to sign contracts for a ground floor flat in Trafford. We have hit a snag. The mortgage offer with Accord Mortgages Ltd expires on 14/4/2025 but the owners are suggesting a completion date of 16/4/2025. Is it possible to prolong the mortgage expiry date?
The best person to deal with your issue is your solicitors who will determine if he or she is should be discussing with the bank, owner’s representatives, estate agents or possibly all three given the history of your house move as of today.
I am due to exchange contracts on my flat. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being a right pain. The Trafford solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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 was told four weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Trafford is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Co-operative have agreed my home loan in principle, my offer on a flat in Trafford has been accepted, what are the next steps?
Your property agent will wish to be advised as to your property lawyer's details (be sure the lawyers are on the bank’s approved list). Call up Co-operative or the financial adviser and finish off any relevant documentation. Co-operative will sellect a valuer who will get in touch with the estate agent or vendor to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes about ten days to get a mortgage offer. Co-operative will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Trafford.
Should our lawyer be making enquiries regarding flooding during the conveyancing in Trafford.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Trafford. Plenty of people will buy a property in Trafford, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a numerous checks that can be carried out by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Trafford. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out whether the property has suffered from flooding. In the event that the property has been flooded in past and is not revealed by the owner, then a purchaser may commence a legal claim for losses resulting from an inaccurate answer. A purchaser’s solicitors will also carry out an environmental report. This should higlight whether there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I have todaybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Trafford for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Trafford conveyancing specialists.
I'm purchasing my first flat in Trafford with the aid of help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my solicitor about the side-deal as it could put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In searching the world wide web for the phrase on line conveyancing in Trafford it brings up many conveyancersin the area. How do I determine which is the suitable conveyancer for me?
The best way of choosing a suitable conveyancer is via personal referral, so enquire of friends and those you trust who have acquired a property in Trafford or a reputable estate agent or financial adviser. Fees for conveyancing in Trafford vary, so it's a good idea to secure a minimum of four costs illustrations from varying types of solicitors. Make sure that you clarify that the fees are fixed.