We were just about to sign contracts for a garden flat in Fenstanton. We have hit a problem. Our loan offer with Bank of Ireland expires on 30/11/2026 but the sellers are insisting on a completion date of 2/12/2026. Is it possible to extend the mortgage offer?
The person best placed to address this issue is your solicitors who should calculate whether he or she is corresponding with the lender, owner’s solicitors, selling agents or possibly all parties based on what has gone on in your conveyancing to date.
When can the exchange of contracts happen for domestic conveyancing in Fenstanton and do I need to attend the conveyancers office?
If you are near to one of the conveyancing solicitors in Fenstanton you are invited in to sign documents. However, the law practices we work with offer a national conveyancing service and give as equally detailed and professional a job for you when communicating with you digitally. The executing of the property agreement is not the important part. A signed contract is necessary for the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Fenstanton)to be in the office at the appropriate time.
I am currently in the process of buying my council flat in Fenstanton. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I have a mortgage with Clydesdale for my property in Fenstanton. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.
Intending to buy a house in Fenstanton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fenstanton solicitor is on the Bank of Ireland conveyancing panel.
Should our lawyer be making enquiries regarding flooding during the conveyancing in Fenstanton.
The risk of flooding is if increasing concern for solicitors dealing with homes in Fenstanton. There are those who purchase a house in Fenstanton, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Fenstanton. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a buyer could commence a legal claim for losses resulting from an misleading answer. A buyer’s solicitors will also commission an enviro search. This should indicate whether there is any known flood risk. If so, additional investigations should be conducted.
I am purchasing a new build house in Fenstanton benefiting from help to buy. The sellers refused to move on the price so I negotiated 6k of extras instead. The estate agent advised me not disclose to my solicitor about this deal as it may adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Whilst your website is a good idea there are many lawyers listed near Fenstanton being on the lender conveyancing panel. Can you recommend a specific firm on the lender approved panel?
We do not recommend specific Fenstanton firms as the right Fenstanton conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Fenstanton knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..