We were just about to sign contracts for a garden flat in Gedling. We encountered a snag. The loan offer with Clydesdale expires on 24/3/2025 but the vendors are putting forward a completion date of 26/3/2025. Is it possible to extend the mortgage offer?

The person best placed to deal with your issue is your solicitors who will assess whether they corresponding with the mortgage company, seller’s representatives, estate agents or indeed all three given the circumstances your conveyancing as of today.

Why do I have to pay up front for my conveyancing in Gedling?

If you are buying a property in Gedling your solicitor will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the sale price then this should be required immediately prior to contracts are exchanged. The closing balance that is due will be payable a few days ahead of the day of completion.

What makes your site different to other online quote calculators when it comes to conveyancing in Gedling?

At this site obtain a fixed fee quote from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Gedling. Unlike many estate agents and many comparison sites we do not charge firms a commission if you select them for your property ownership legalities in Gedling

My uncle has recommend that I appoint his conveyancers in Gedling. Should I use them?

There are no two ways about it the best way to select a conveyancing lawyer is to seek recommendations from friends or family who have actually previously instructed the firm you're contemplating using.

I work for a long established estate agent office in Gedling where we have experienced a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Gedling conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Gedling Leasehold Conveyancing - A selection of Queries Prior to Purchasing

The answer will be useful as a) areas can cause problems in the building as the common areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to know about it How long is the Lease? Many Gedling leasehold apartments will be liable to pay a service charge for the upkeep of the building set on behalf of the management company. Where you buy the property you will have to meet this amount, usually periodically during the year. This may vary from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a significant sum, say around £25-£75 but you need to enquire as on occasion it could be prohibitively expensive.