We were just about to sign contracts for a semi detached house in Parkstone. We encountered a snag. Our mortgage offer with Clydesdale runs out on 16/9/2025 but the owners are suggesting a completion date of 18/9/2025. Can one prolong the mortgage expiry date?
The person best placed to deal with your question is your lawyer who will calculate if they corresponding with the mortgage company, seller’s conveyancers, property agents or conceivably all parties based on the circumstances your conveyancing as of today.
How does conveyancing in Parkstone differ for newly converted properties?
Most buyers of new build premises in Parkstone come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Parkstone usually purchase 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 accustomed to new build conveyancing in Parkstone or who has acted in the same development.
In scouring the web for the term on line conveyancing in Parkstone it reveals numerous property lawyerslocally. How do I determine which is the suitable solicitor for the sale of my house?
The preferential method of finding a suitable conveyancer is through a personal testimonial, so ask colleagues and family who have bought a property in Parkstone or the respected estate agent or financial adviser. Costs for conveyancing in Parkstone vary, so it's advisable to obtain at least four fee calculations from varying types of conveyancers. Dont forget to clarify that the costs are guaranteed not to increase.
Estate agents have just been given the go-ahead to market my garden flat in Parkstone. Conveyancing solicitors are to be appointed soon, but I have recently received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as usual as all ground rent and maintenance invoices should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a 2 bed flat in Parkstone, conveyancing having been completed November 2009. 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? Similar properties in Parkstone with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease expires on 21st October 2082
With 57 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Developers have recommended to me a conveyancing practitioner and I've sought an estimate from them. They are nearly £250 less expensive than my preferred Parkstone lawyer. Should I use them?
Builders normally have lists of property lawyers who are quick and who know the builder's documentation and lawyer. Plenty of developers offer an incentive to select a preferred conveyancer for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing warehouse and run the risk of having the transaction stall when they require an exchange in 28 days. A counter-argument for not agreeing to use the recommended property lawyer is that they may prove unwilling to fight for your interests for fear of upsetting the developer. If you worry that this may be the case you should remain with your high street Parkstone conveyancing practitioner.