We are a couple about to exchange contracts for a semi detached house in Padstow. We have hit a snag. Our mortgage offer with Nottingham Building Society expires on 31/3/2026 but the sellers are insisting on a completion date of 2/4/2026. Is it possible to extend the mortgage offer?
The best person to address this concern is your lawyer who should determine whether they better off negotiating with the mortgage broker, seller’s representatives, estate agents or conceivably all three based on what has happend in your house move as of today.
Can your site be used to recommend a Conveyancing solicitor in Padstow even if I’m not buying or selling a house, for example where I wish to buy a shop in Padstow with a loan from Skipton Building Society?
Our search tool is predominantly there to find residential conveyancing solicitors in Padstow but we have recorded towards the end of this page a selection of Padstow commercial conveyancing firms. You should speak with the solicitors directly to establish if they are also authorised to represent Skipton Building Society
What will a local search tell me regarding the house we're purchasing in Padstow?
Padstow conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search is essential in every Padstow conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
How does conveyancing in Padstow differ for new build properties?
Most buyers of new build property in Padstow contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Padstow typically buy the site, 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 accustomed to new build conveyancing in Padstow or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Padstow I like with a park and transport links nearby, the downside is that it only has 49 years on the lease. There is not much else in Padstow for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could ask them to 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 solicitor regarding this matter.