We are a couple about to exchange contracts for a freehold house in Fakenham. We have hit a snag. Our mortgage offer with Clydesdale runs out on 10/4/2025 but the sellers are putting forward a completion date of 14/4/2025. Is it possible to extend the mortgage offer?
The best person to address this question is your solicitors who should determine whether they better off negotiating with the lender, owner’s lawyers, estate agents or conceivably all parties taking into account the history of your house move as of today.
Having sold my house in Fakenham last April but my buyer keeps SMS messaging daily complaining that her lawyer needs to hear from mine. What are the post completion sale legalities following completion?
Post completion of your sale your conveyancer should send the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer should also confirm that the legal charge in favour of the lender has been paid off to the buyers conveyancers. There are no post completion tasks just for conveyancing in Fakenham.
If you had a top tip for selecting a conveyancing solicitor in Fakenham what would it be?
It would be unwise to be swayed by the lowest Fakenham conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I currently have a mortgage with RBS for my property in Fakenham. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
RBS must be informed of your intention prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
Completion of my purchase has taken place for my property in Fakenham. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
How does conveyancing in Fakenham differ for new build properties?
Most buyers of new build residence in Fakenham come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Fakenham usually 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 accustomed to new build conveyancing in Fakenham or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Fakenham I like with a park and station in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Fakenham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
How does the Landlord & Tenant Act 1954 affect my business property in Fakenham and how can your lawyers assist?
The 1954 Act provides protection to business tenants, granting the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Fakenham