We were just about to exchange contracts for a property in Empingham. We have hit a stumbling block. Our loan offer with Coventry Building Society expires on 17/12/2026 but the owners are insisting on a completion date of 21/12/2026. Can one extend the loan offer?
The person best placed to address this issue is your conveyancer who should assess whether he or she is should be discussing with the mortgage company, owner’s lawyers, selling agents or possibly all parties taking into account what has happend in your house move to date.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Empingham. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this possible?
Given you plan to refinance then TSB will require that you use a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
I am purchasing my first flat in Empingham benefiting from help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about this deal as it may affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What tools are available to identify a Empingham solicitor on the Britannia conveyancing panel? I drive a motor bike and am happy to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this website. Please pick a lender and your location and you will see a number of Empingham conveyancing lawyers located nearest you. We have detailed some Empingham conveyancing firms towards the end of this page and you can contact them to see if they are on the Britannia approved list
What advice can you give us when it comes to appointing a Empingham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Empingham conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Empingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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How many lease extensions have they conducted in Empingham in the last 12 months? What are the costs for lease extension conveyancing?
I bought a split level flat in Empingham, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Empingham with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2081
With 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Should I cancel my mortgage payments with TSB once a completion date for my home sale in Empingham has been set?
No, you should maintain paying any mortgage sums to TSB pending the mortgage being paid off from the proceeds of sale as part of your Empingham conveyancing.