We were just about to exchange contracts for a ground floor flat in Middlewich. We encountered a stumbling block. The loan offer with Platform Home Loans Ltd expires on 18/2/2025 but the sellers are putting forward a completion date of 20/2/2025. Can one prolong the mortgage expiry date?
The best person to address this concern is your solicitors who will determine whether they better off negotiating with the mortgage company, owner’s representatives, property agents or indeed all parties taking into account what has happend in your house move as of today.
Why is leasehold purchase conveyancing in Middlewich is more expensive?
Middlewich leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Middlewich. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/12/2024, the requirements read as follows :
It has been three months since my purchase conveyancing in Middlewich completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 asset 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.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Middlewich I like with amenity areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Middlewich in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.