We were just about to exchange contracts for a property in Eye. We have hit a stumbling block. The mortgage offer with Norwich and Peterborough Building Society expires on 27/3/2025 but the vendors are insisting on a completion date of 31/3/2025. Can one prolong the loan expiry date?
The best person to address this concern is your conveyancer who should calculate if he or she is better off negotiating with the bank, vendor’s conveyancers, property agents or conceivably all three given the circumstances your house move as of today.
I am selling my home in Eye. Does my lawyer need to be on the Bank of Ireland conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I need some quick conveyancing in Eye as I am faced with a deadline to sign on the dotted line within 4 weeks. Luckily I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you have the choice not to have searches conducted although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Eye the following are instances of what can arise and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
How does conveyancing in Eye differ for newly converted properties?
Most buyers of new build residence in Eye contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because house builders in Eye tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eye or who has acted in the same development.
Please can you suggest a good Eye lawyer for purchasing an apartment? A work colleague recommended one but their estimate was £995 plus VAT for a 225k property. That seems a tad expensive. The bank will be Nationwide.
The purpose of this site is limited to being a directory service for conveyancers who wish to be listed as being on the approved conveyancing panel for Nationwide in certain areas for instance Eye . Our intention is not to recommend any particular property lawyer.