We were just about to exchange contracts for a ground floor flat in Maidenbower. We encountered a problem. The loan offer with Godiva Mortgages Ltd runs out on 23/4/2025 but the sellers are suggesting a completion date of 25/4/2025. Can one extend the loan expiry date?
The person best placed to deal with your issue is your conveyancer who should determine whether they should be discussing with the mortgage company, vendor’s solicitors, selling agents or conceivably all three based on what has gone on in your transaction to date.
My wife and I are spending time viewing apartments in Maidenbower and I am now considering a potential offer. Is it sensible to have my conveyancer on ‘stand by’? I am planning to take a mortgage with Principality.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are obtaining a mortgage with Principality, ask your prospective lawyers if they are on the Principality conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Co-operative. I assume I don't need a Maidenbower property lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
At last I have had an offer on an apartment in Maidenbower accepted, the owners do nevertheless have a connected purchase. The owners have offered on a property, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a high street conveyancing solicitor in Maidenbower. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then valuation, Maidenbower conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Bank of Ireland approved list. As to the subsequent stages this very much depends on the uniqueness of your case, motivation for this property and on the state of the market. In a buoyant market many purchasers will apply for a home loan with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to move forward with searches.
4 months have elapsed following my purchase conveyancing in Maidenbower concluded. I have checked the Land Registry website which shows that I paid £150,000 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.
Due to the advice of my in-laws I had a survey completed on a property in Maidenbower in advance of appointing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some banks tend refuse to grant a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Maidenbower. Conveyancing will be smoother if you use a solicitor in Maidenbower especially if they are acquainted with such properties in Maidenbower.
I was advised by a number of selling agents in Maidenbower to get a quote from a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to offer your site rather than alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.