We were just about to sign contracts for a semi detached house in Ferryside. We have hit a stumbling block. The mortgage offer with Britannia runs out on 2/4/2026 but the sellers are suggesting a completion date of 8/4/2026. Is it possible to prolong the loan offer?
The person best placed to deal with your question is your conveyancer who is in a position to calculate if he or she is corresponding with the lender, vendor’s conveyancers, selling agents or indeed all parties given the circumstances your transaction as of today.
Me and my partner are purchasing a flat in Ferryside. It might be a silly question but how we can trust a solicitor? On completion day we have to send money into their account. What protection do 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.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Ferryside?
There are many recorded licenced Conveyancers in Ferryside and Solicitor practices in Ferryside who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Ferryside building society branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Ferryside conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. I simply don't know who is right.
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Do I need to take out insurance to address the risk of chancel repairs when buying a property in Ferryside?
Unless a previous purchase of the premises completed post 12 October 2013 you may assume that solicitors handling conveyancing in Ferryside to remain encouraging a chancel search and or insurance against a claim.
I am buying a new build flat in Ferryside. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Ferryside
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
We are 14 days into a leasehold purchase having been referred to conveyancers by the high street agent to execute conveyancing in Ferryside. I am am starting to be dissatisfied with the quality of service. Can you help me find new lawyers?
A solicitor would need to be really bad to suggest changing them. Has your mortgage offer been sent? If so you will need to advise them of the new contact details and get the loan are re-issued. Your new conveyancer should be on the lenders panel to avoid supplemental costs and complications. So that should be your first question of the new solicitors. The find a solicitor tool can assist you in finding a bank approved conveyancer for your home move in Ferryside
I've recently bought a leasehold flat in Ferryside. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Ferryside - Sample of Questions you should consider before Purchasing
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Most Ferryside leasehold flats will incur a service bill for maintenance of the block set on behalf of the management company. Where you acquire the apartment you will have to meet this contribution, usually quarterly throughout the year. This may vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent to be met yearly, normally this is not a large figure, say approximately £25-£75 but you should to check it because occasionally it can be prohibitively expensive. Where a Ferryside lease has fewer than 80 years it will affect the value of the property. Check with your lender that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have owned the property for a couple of years in order to be entitled to extend the lease. What restrictions exist in the Ferryside Lease?