We were just about to sign contracts for a freehold house in Eynsham. We encountered a stumbling block. The loan offer with Bank of Scotland expires on 9/2/2026 but the vendors are insisting on a completion date of 11/2/2026. Can one extend the loan expiry date?
The best person to deal with your concern is your solicitors who will calculate if they better off negotiating with the mortgage broker, vendor’s lawyers, selling agents or possibly all three given the history of your house move as of today.
My grandmother passed away last year and as sole heir and executor I was left the house in Eynsham. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Aldermore will insist on your using a conveyancer on the Aldermore 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 Aldermore 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 Aldermore mortgage is registered as a charge at the Land Registry.
How does conveyancing in Eynsham differ for newly converted properties?
Most buyers of new build property in Eynsham come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Eynsham tend to acquire the real estate, 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 property lawyers 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 Eynsham or who has acted in the same development.
We're novice buyers - agreed a price, yet the property agent advised that the vendor will only move forward if we instruct their recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor who is accustomed to conveyancing in Eynsham
We suspect that the owner is unaware of this demand. Should the owner desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is counter productive. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are serious buyers (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)however you intend to use your own,trusted Eynsham conveyancing solicitors - not the ones that will give their estate agent a kickback or achieve conveyancing targets pre-set by head office.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Eynsham. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Eynsham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Eynsham so you should seriously consider looking for a Eynsham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I own a 1st floor flat in Eynsham, conveyancing was carried out May 2012. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Eynsham with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2096
With just 71 years unexpired the likely cost is going to span between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.