We were just about to exchange contracts for a freehold house in Westonzoyland. We encountered a snag. The loan offer with Skipton Building Society runs out on 31/3/2025 but the vendors are suggesting a completion date of 2/4/2025. Can one extend the mortgage offer?
The best person to deal with your issue is your solicitors who will hopefully calculate if they better off negotiating with the bank, owner’s lawyers, estate agents or conceivably all three taking into account what has gone on in your house move as of today.
We wanted to use a conveyancing solicitor in Westonzoyland for our house purchase. Our broker has since advised us that our mortgage lenders Britannia won't deal with them. Why is this not regarded as unduly restrictive?
A lender can insist on a panel conveyancer act for it. You would be liable to bear the cost of this. Try using our directory service to find a solicitor to carry conveyancing in Westonzoyland on the Britannia conveyancing panel.
I'm the only recipient of my late mum's will with all property in now in my sole name, including the my former home in Westonzoyland. The Westonzoyland property was put into my name in December. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the property in December. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view banks take of it, depend on the mortgage company as this clause chiefly exists to capture the purchase and immediately sell or the quick reselling of properties.
We expect to receive a OIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Westonzoyland solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Westonzoyland solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Westonzoyland solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Westonzoyland postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Westonzoyland.
We are close to exchanging contracts on the sale of our house in Westonzoyland and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. Any high street Westonzoyland conveyancer would know this is not the case. It does beg the question why the buyers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Westonzoyland. We have lived in Westonzoyland for three years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Westonzoyland I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Westonzoyland for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.