We were just about to sign contracts for a garden flat in Salcombe. We encountered a problem. The mortgage offer with Chelsea Building Society runs out on 17/11/2025 but the vendors are insisting on a completion date of 19/11/2025. Can one extend the mortgage offer?
The person best placed to deal with your issue is your solicitors who will determine whether they corresponding with the mortgage broker, seller’s conveyancers, estate agents or indeed all parties given what has happend in your house move to date.
Will our lawyer be raising questions about flooding as part of the conveyancing in Salcombe.
Flooding is a growing risk for lawyers conducting conveyancing in Salcombe. Some people will buy a house in Salcombe, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a various searches that can be carried out by the buyer or by their lawyers which should figure out the risks in Salcombe. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to discover if the property has suffered from flooding. If flooding has previously occurred which is not notified by the owner, then a buyer may bring a compensation claim as a result of such an inaccurate response. The buyer’s conveyancers may also commission an enviro search. This should disclose if there is any known flood risk. If so, additional investigations should be made.
How does conveyancing in Salcombe differ for new build properties?
Most buyers of new build residence in Salcombe approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Salcombe 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 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 Salcombe or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Salcombe prior to appointing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies may not grant a loan on such a house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Salcombe. Conveyancing will be smoother if you use a solicitor in Salcombe especially if they are familiar with such properties in Salcombe.
As a tenant I am liable for a service charge for my flat in Salcombe. As a result of flawed financial planning I fell behind with remittance. I negotiated a clearance schedule but there is still in the region of £1750 currently outstanding.
I am under pressure to dispose of the property and I am worried this can hold me back if I have to discharge the arrears in advance. I'd like to sell up and subsequently pay them back with the completion monies - is this practicable?
The lawyer dealing with your Salcombe sale will hopefully be able to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the completion monies. Here is indicative of why it might be good to select a lawyer in Salcombe as they are likely to have an open line of communication with the parties.