We were just about to exchange contracts for a semi detached house in Blandfordum. We encountered a snag. The loan offer with expires on but the sellers are suggesting a completion date of . Can one prolong the loan offer?

The person best placed to address this issue is your conveyancer who will hopefully determine if they corresponding with the mortgage company, vendor’s conveyancers, property agents or indeed all three given the circumstances your transaction as of today.

How does conveyancing in Blandfordum differ for newly converted properties?

Most buyers of new build residence in Blandfordum approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because developers in Blandfordum typically acquire the land, 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 conveyancing solicitors 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 used to new build conveyancing in Blandfordum or who has acted in the same development.

Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Blandfordum I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Blandfordum for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a home loan the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.

I am on look out for some leasehold conveyancing in Blandfordum. Before diving in I require certainty as to the remaining lease term.

If the lease is registered - and 99.9% are in Blandfordum - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Blandfordum Leasehold Conveyancing - Sample of Questions you should consider before buying

It would be sensible to find out as much as you can about the managing agents as they will either make life much simpler or a lot more difficult. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to daily issues like the upkeep of the communal areas. You should not be shy to ask other people if they are happy with them. On a final note, find out the dates that the maintenance fees are due to the appropriate party and specifically what you get for your money. How many of the leaseholders are in arrears for their maintenance charge payments? The answer will be useful as a) areas could cause problems for the block as the common areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the running of the building you will want to know about it

Do I need to pop into the offices of the bank conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Blandfordum so that I can attend their offices when needed.

As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Blandfordum.