We are about to exchange contracts for a semi detached house in Islington. We have hit a snag. Our loan offer with Norwich and Peterborough Building Society expires on 28/4/2025 but the sellers are putting forward a completion date of 30/4/2025. Can one prolong the mortgage expiry date?
The best person to deal with your issue is your lawyer who is in a position to determine if he or she is better off negotiating with the mortgage company, vendor’s lawyers, property agents or possibly all parties given the history of your transaction as of today.
How does conveyancing in Islington differ for newly converted properties?
Most buyers of new build or newly converted property in Islington come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Islington typically buy 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 property lawyers 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 Islington or who has acted in the same development.
I'm refinancing my primary property to a BTL mortgage with Birmingham Midshires and I will use the ballance of the raised equity towards another house. The location we are talking about is Islington. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Make use of our comparison tool on this site to ensure that the lawyers are approved by both banks. On the basis that they are the solicitor should be able to tie up the two transactions but you should have a chat with you solicitor and communicate your expectations and requirements.
We're novice buyers - had an offer accepted, but the estate agent has warned us that the vendor will only move forward if we appoint the agent's chosen conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in Islington
It is improbable the owners are driving this. If they want ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Contact the sellers directly and make sure they comprehend that (a)you are serious buyers (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you intend to appoint your own,trusted Islington conveyancing solicitors - not the ones that will give the estate agent a referral fee or meet his conveyancing targets set by corporate headquarters.
I was informed by my mortgage company that their panel lawyers operate no completion no charge basis for conveyancing in Islington. My purchase did not proceed yet the solicitors have requested search fees! They say the fees are nothing to do with their fees!
Islington conveyancing search charges are disbursements not legal fees as these are due to independent parties.