We were just about to exchange contracts for a garden flat in Boston. We have hit a snag. Our loan offer with Halifax expires on 2/11/2026 but the vendors are insisting on a completion date of 4/11/2026. Is it possible to extend the loan offer?
The best person to address this issue is your conveyancer who should assess if he or she is should be discussing with the mortgage company, seller’s representatives, property agents or possibly all three based on the circumstances your conveyancing as of today.
What is the best way to investigate if the solicitor carrying out my conveyancing in Boston is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus spending £175.00 in another set of conveyancing costs.
You should take advantage of the search tool on this site. Pick the lender and type ‘Boston’ or your location and you will see a number of lawyer offices in Boston or by proximity to you.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Boston?
Two types of professional can do conveyancing in Boston namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the disposal or purchase of property. They are both obliged to conduct Boston conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally conducted and that the necessary procedures will be appropriately followed.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Boston building society branch on numerous occasions and was reassured it wasn't an issue and they will lend. My Boston conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the property lawyer is on the mortgage company panel, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer agreed on an apartment in Boston. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £150. A couple of days later, the conveyancer contacted me sheepishly admitting that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 3 months following my purchase conveyancing in Boston took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently bought a leasehold house in Boston. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1st floor flat in Boston, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Boston with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2095
With only 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
Is there a reason that Boston conveyancing charges are more expensive for leasehold and freehold properties?
Leasehold conveyancing in Boston will often involve additional due diligence such as reviewing the lease, communicating with the landlord, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.