We are about to exchange contracts for a property in Elmswell. We encountered a snag. The loan offer with Platform Home Loans Ltd runs out on 1/10/2026 but the sellers are insisting on a completion date of 5/10/2026. Is it possible to prolong the loan expiry date?
The person best placed to deal with your question is your lawyer who will calculate if they should be discussing with the mortgage company, owner’s conveyancers, estate agents or indeed all three taking into account the circumstances your house move to date.
My wife and I are purchasing a apartment in Elmswell. I might seem paranoid but how we can trust a solicitor? At some point we have to deposit our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
After much negotiation I have agreed a price on an apartment in Elmswell. My financial adviser recommended their conveyancers. I paid an advanced payment of £150. Soon after, the lawyer called me to say that they were not on the Lloyds 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 Lloyds 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.
I have finally had an offer on an apartment in Elmswell agreed to, the owners do however have an associated purchase. The owners have offered on a property, however it’s not yet tied up, and are looking at other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Elmswell. What do I do now? At what point should I apply for the mortgage with Nottingham?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx one thousand pounds, then valuation, Elmswell conveyancing search charges, etc). The first thing to do is ensure that your lawyer is on the Nottingham conveyancing panel. Regarding the next steps this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market some home buyers would apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to proceed with searches.
I am looking for a ground for flat up to £235,500 and found one close by in Elmswell I like with a park and transport links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Elmswell in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Hoping to buy a property located in Elmswell and I am already nervous. I couldn't find anything specific about Elmswell. Conveyancing will be needed in due course but do you know about the Elmswell area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Elmswell. In the meantime here are some basic statistics that we found
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Elmswell. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Elmswell are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Elmswell in which case you should be looking for a Elmswell conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I inherited a 1st floor flat in Elmswell, conveyancing was carried out in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Elmswell with over 90 years remaining are worth £265,000. The ground rent is £50 levied per year. The lease expires on 21st October 2102
With only 76 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Why am I unable to complete my conveyancing in Elmswell on Easter Monday?
Because on completion the sale price will pass between the banks of the buyer and seller's solicitor and currently this can only take place on a business day. It is not possible to complete on a saturday or sunday either.