We were just about to sign contracts for a freehold house in Colsterworth. We encountered a stumbling block. The loan offer with Bank of Ireland expires on 24/7/2025 but the owners are insisting on a completion date of 28/7/2025. Is it possible to extend the mortgage offer?
The best person to deal with your concern is your solicitors who should assess whether they better off negotiating with the mortgage broker, owner’s conveyancers, estate agents or conceivably all three given the circumstances your conveyancing to date.
My Solicitor in Colsterworth is not listed on the Aldermore Solicitor Panel. Can I still retain my family solicitor notwithstanding that they are not on the Aldermore approved list?
Your options are as follows:
- Carry on with your existing Colsterworth solicitors but Aldermore will need to instruct a conveyancer on their panel. This will result in additional total legal charges and cause delays.
- Choose an alternative practitioner to to deal with the conveyancing, obviously checking they are on the Aldermore panel
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Colsterworth?
There are many recorded licenced Conveyancers in Colsterworth and Solicitor partnerships in Colsterworth to choose from It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My wife and I are at the point of looking at houses in Colsterworth and I am about to put in an offer. Is it advisable to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with RBS.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are getting a mortgage with RBS, make sure you remember to check that your lawyer is on the RBS conveyancing panel.
My offer was accepted on an apartment in Colsterworth on 15/4/2025, valuation was booked 2 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the advice of my in-laws I had a survey completed on a property in Colsterworth prior to instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to give a loan on such a property.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Colsterworth. Conveyancing will be smoother if you use a solicitor in Colsterworth especially if they are acquainted with such properties in Colsterworth.
Am I best advised to go with a Colsterworth conveyancing practitioner based in the vicinity that I am purchasing? I have an old university friend who can deal with the legal work however they are based 200kilometers away.
The primary upside of using a high street Colsterworth conveyancing firm is that you can drop in to execute documents, hand in your identification documents and pester them where appropriate. Having local Colsterworth know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that must surpass using an unfamiliar Colsterworth conveyancing lawyer just because they are local.
We expect to complete the disposal of our £350,000 garden flat in Colsterworth next week. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Colsterworth?
Colsterworth conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to assist. They are entitled to charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.
I invested in buying a ground floor flat in Colsterworth, 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? Similar properties in Colsterworth with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2078
With just 53 years left to run we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.