We are about to exchange contracts for a freehold house in Finchampstead. We encountered a problem. Our mortgage offer with Platform Home Loans Ltd runs out on 31/3/2025 but the owners are insisting on a completion date of 2/4/2025. Can one extend the loan offer?
The best person to deal with your question is your solicitors who should calculate if he or she is better off negotiating with the lender, seller’s conveyancers, estate agents or conceivably all parties given the history of your house move as of today.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Finchampstead?
There are many registered licenced Conveyancers in Finchampstead and Solicitor partnerships in Finchampstead to choose from It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being a right pain. The Finchampstead solicitor who is on the Santander conveyancing panel is recommending indemnity insurance as a solution but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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.
My offer was accepted on an apartment in Finchampstead on 9/12/2024, valuation was booked 4 days after, received a clean bill of health. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Principality and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Principality conveyancing panel. Are Principality entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up during conveyancing in Finchampstead?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Finchampstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the guidance of my in-laws I had a survey completed on a property in Finchampstead in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may not issue a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Finchampstead. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm refinancing my current home to a BTL mortgage with Halifax and intend to use the remaining equity as a down payment on further house. The neighborhood we are looking at is Finchampstead. Will your conveyancers be able to act for both sets of banks and link together the conveyances?
Make use of our search tool on this site to check that the solicitors are on the appropriate lender panels. Having checked that they are the solicitor should be able to connect the two transactions but you should have a chat with you conveyancer and make apparent your expectations and requirements.