Embassy exodus returns acres of central London to its residents
As the embassies exit Mayfair and Marylebone, their former bases will free up stunning family homes. While the move of many embassies to Nine Elms at Vauxhall is creating a new residential quarter including thousands of new apartments.
Fast new commuter routes are changing London's property map
Regeneration throughout London continues to change the property map, with the orbital train network and recent Tube line extensions creating faster commuter routes with good-value homes, including Deptford, Bromley and Woolwich.
Brighton spotlight
The East Sussex city of Brighton and Hove offers its residents the best of both worlds: a relaxed life at one end of the line within an hour's commute of London, and a good mix of Regency terrace houses, seafront apartments and family homes.
Canterbury spotlight
The compact city of Canterbury sits 60 miles south-east of London in Kent. In recent years its property market has been boosted by a high-speed rail service into St Pancras, which cuts the journey time to the capital to less than an hour.
Chelsea Flower Show preview 2013
This year the RHS Chelsea Flower Show promises to be suitably fabulous as it celebrates its centenary year with stunning gardens, including the Forget-me-Not Garden by B&Q and Prince Harry's charity.
Find a rated tradesman
Want to add value to your property, make your house a home, or sell your place fast? With 1,000s of tradesmen nationwide, rated and recommended by previous customers, this is the smart way to find a reputable tradesman.
Buy of the week: Stoke Newington, N16
This modern home of almost 1,000sq ft is close to Stoke Newington's high street. A 27ft reception room and two large bedrooms give the flat a spacious feel.
Out of town: Tetbury, Gloucestershire
The beauty spot of Leighterton, with its poppy fields, ivy-covered churches and popular local gastro pub, is home to this four-bedroom house with stone-walled gardens.
Life-changer: Dolwyddelan, Conwy
Have a station all to yourself by buying the Old Station Master's house at Roman Bridge, where trains will stop at your door on request. You also get three bedrooms and 10 acres of grounds.
Oxford spotlight
The small city of Oxford is famous for its university and honeyed stone architecture, but its huge range of property - from affordable new homes to luxurious Victorian houses - and one hour commute to London, are big attractions to home buyers.-
Buy of the week: Stoke Newington, N16
This modern home of almost 1,000sq ft is close to Stoke Newington's high street. A 27ft reception room and two large bedrooms give the flat a spacious feel. -
Out of town: Tetbury, Gloucestershire
The beauty spot of Leighterton, with its poppy fields, ivy-covered churches and popular local gastro pub, is home to this four-bedroom house with stone-walled gardens. -
Life-changer: Dolwyddelan, Conwy
Have a station all to yourself by buying the Old Station Master's house at Roman Bridge, where trains will stop at your door on request. You also get three bedrooms and 10 acres of grounds.
Property search
Can our solicitors hold up a same-day move?
Our lawyer, Fiona McNulty, answers your questions
© Merrily Harpur
Answer: Irrespective of whether you have a mortgage, if you and your seller wish to exchange contracts and complete simultaneously then I can see no reason why you should not.
Agree with your seller the date upon which you wish to simultaneously exchange, complete the purchase, and inform your solicitors accordingly.
Your solicitors probably like to set up everything for completion once contracts have been exchanged because there is certainty as the contract is then binding.
However, for a simultaneous exchange and completion, your solicitors will need to get everything ready for completion just as if contracts had already been exchanged — provided you understand that if there is no prior exchange of contracts then there is no binding agreement between you and the seller, and so no certainty for you that the seller will exchange and complete the sale to you on the agreed date.
If for some reason the seller does not sell to you, then you are likely to incur wasted costs such as removal fees. Also your solicitors will need to obtain the mortgage funds from your lender in readiness for completion and if these have to be returned to your lender, then you will be responsible for the interest from the date of release.
If you had a related sale it would be more difficult to line up a simultaneous completion on your purchase, as you would have no certainty that your buyer would proceed with the purchase of your house unless you exchanged contracts with them. And you could risk selling your home but ending up with no property to buy if your seller pulled out.
What's your problem?
If you have a question for Fiona McNulty, email legalsolutions@standard.co.uk. We regret that questions cannot be answered individually.
Fiona is a partner in the residential real estate team at Thring LLP (www.thrings.com).
These answers can only be a very brief commentary on the issues raised and should not be relied on as legal advice. No liability is accepted for such reliance. If you have similar issues, you should obtain advice from a solicitor.
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