We are a couple about to sign contracts for a ground floor flat in Barnoldswick. We have hit a stumbling block. Our mortgage offer with Virgin Money expires on 15/6/2026 but the sellers are insisting on a completion date of 17/6/2026. Can one extend the loan expiry date?
The best person to deal with your question is your lawyer who will hopefully determine if they corresponding with the mortgage company, vendor’s lawyers, estate agents or indeed all parties based on the circumstances your transaction to date.
we are a couple who are purchasing a 3 bedroom flat in Barnoldswick with a residential mortgage from Yorkshire Building Society.We would like to retain our Barnoldswick conveyancing lawyer but Yorkshire Building Society advised that he's not on their "panel". We have to appoint a Yorkshire Building Society panel lawyer or retain our preferred solicitor and pay for a Yorkshire Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you contains terms and conditions, a common one being that lawyers must be on the Yorkshire Building Society solicitor panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Yorkshire Building Society
We have agreed to purchase a house in Barnoldswick. One unusual aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is UBS your lawyer must comply with the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for UBS. The CML Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to UBS where a lease does not meet these provisions. The conditions relate to the installation of panels on properties countrywide and is not limited to Barnoldswick.
The formalities of my remortgage has taken place for my property in Barnoldswick. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I was told two weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Barnoldswick is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Barnoldswick is the location of the property. Can you offer any guidance?
Flying freeholds in Barnoldswick are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barnoldswick you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnoldswick may ascertain 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.
I was pointed in your direction by three or four local estate agents in Barnoldswick to get a quote from a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to promote your lawyers over a competitor’s?
We don’t offer any financial incentive for sending work our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Why do Barnoldswick conveyancing costs are more expensive for leasehold and freehold properties?
There is always increased work necessary in leasehold conveyancing. Barnoldswick has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.