We were just about to exchange contracts for a leasehold flat in Fareham. We encountered a snag. The mortgage offer with Bank of Scotland runs out on 8/9/2025 but the vendors are suggesting a completion date of 10/9/2025. Is it possible to prolong the loan offer?
The best person to address this issue is your conveyancer who will hopefully determine if he or she is should be discussing with the lender, owner’s conveyancers, estate agents or indeed all three taking into account the history of your house move to date.
Finally the sale completed on my house in Fareham last October yet the purchaser is texting daily to say her conveyancer is waiting to hear from mine. What should my lawyer have done following completion?
Following your sale your conveyancer is obliged to send the transfer documentation and all of the paperwork to the buyer’s solicitors. If applicable, your conveyancer should also send confirmation that the legal charge in favour of the lender has been discharged to the buyers lawyers. There is unlikely to be post completion formalities specific conveyancing in Fareham.
I am planning to acquire a house and require a conveyancing solicitor in Fareham who is on the Lloyds TSB Bank solicitor. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Lloyds TSB Bank in certain locations such as Fareham. We dont recommend any particular firm.
three months have elapsed following my purchase conveyancing in Fareham concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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 am a negotiator for a long established estate agency in Fareham where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Fareham conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Fareham Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? What prohibitions are contained in the Fareham Lease? If a Fareham lease has no more than 80 years it will have adverse implications on the value of the flat. Check with your bank that they are content with the length of the lease. A short lease means that you will most likely need a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would be be obliged to have owned the property for a couple of years before you are legally able to carry out a lease extension.
What is the reason for new build conveyancing in Fareham being more expensive?
Conveyancing in Fareham for recently converted or new build premises often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further queries and contractual concerns.