We are a couple about to sign contracts for a ground floor flat in Battle. We encountered a stumbling block. Our loan offer with TSB expires on 27/12/2024 but the vendors are insisting on a completion date of 31/12/2024. Can one prolong the loan expiry date?
The best person to address this question is your lawyer who should determine if they better off negotiating with the mortgage broker, vendor’s conveyancers, property agents or possibly all parties given the history of your conveyancing to date.
It has been 3 months since my purchase conveyancing in Battle completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £235,500 and found one close by in Battle I like with a park and station nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Battle for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
We're FTB’s - had an offer accepted, yet the selling agent has warned us that the owners will only issue a contract if we appoint the agent's chosen conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Battle
It is unlikely the sellers are behind this. Should the owner require ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your preferred Battle conveyancing lawyers - not the ones that will earn their estate agent a referral fee or hit his conveyancing figures pre-set by corporate headquarters.
My conveyancers in Battle have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the lender directly.