We were just about to sign contracts for a garden flat in Chelsea. We encountered a snag. The mortgage offer with Barnsley Building Society expires on 23/3/2026 but the sellers are putting forward a completion date of 25/3/2026. Can one extend the mortgage expiry date?
The best person to address this issue is your lawyer who will hopefully calculate if he or she is better off negotiating with the mortgage broker, vendor’s representatives, estate agents or possibly all three given the history of your transaction as of today.
Should commercial conveyancing searches disclose planned roadworks that may impact a commercial estate in Chelsea?
Its becoming the norm that commercial conveyancing solicitors in Chelsea will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Chelsea. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Chelsea.
For every commercial conveyancing transaction in Chelsea it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Chelsea commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Chelsea.
How does conveyancing in Chelsea differ for new build properties?
Most buyers of new build or newly converted property in Chelsea contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Chelsea 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 conveyancers 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 Chelsea or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Chelsea is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chelsea are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chelsea you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chelsea may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are first time buyers - had an offer accepted, yet the property agent told us that the vendor will only issue a contract if we use the agent's preferred solicitors as they are insisting on a ‘quick sale’. We would rather use a high street solicitor who is familiar with conveyancing in Chelsea
We suspect that the owner is not behind this request. Should the seller require ‘a quick sale', taking such a hostile approach to a genuine buyer is going to damage their objectives. Contact the sellers directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your own,trusted Chelsea conveyancing firm - rather thanthe ones that will provide the negotiator at the agency a commission or achieve conveyancing targets set by senior management.