We were just about to sign contracts for a property in Brighton. We encountered a snag. The loan offer with Aldermore runs out on 1/8/2025 but the owners are suggesting a completion date of 5/8/2025. Can one prolong the loan expiry date?
The person best placed to address this issue is your conveyancer who should assess whether he or she is corresponding with the bank, owner’s lawyers, property agents or indeed all parties given the circumstances your conveyancing as of today.
Can you clarify what the consequences are if my lawyer’s firm is removed from the UBS Solicitor panel ahead of completing my conveyancing in Brighton?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have decided to exercise my right to buy my property in Brighton off the council. I have a mortgage offer with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
The mortgage over my property is with Bank of Ireland for my property in Brighton. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel firm.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Brighton bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Brighton conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancing practitioner is on the bank panel, they must comply with the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Brighton differ for new build properties?
Most buyers of new build premises in Brighton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Brighton typically purchase 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 Brighton or who has acted in the same development.
I am selling my home. My past lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Brighton if that makes a difference.
Please use our search tool to help you find a solicitor for your conveyancing in Brighton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Why can I not complete my conveyancing in Brighton on a public holiday?
Because on completion the funds will pass between the banks of the purchaser and seller's solicitor and currently this can only occur on a working day. So you can't complete on a saturday or sunday either.