We were just about to sign contracts for a leasehold flat in Folkestone. We have hit a problem. The mortgage offer with Chelsea Building Society runs out on 20/11/2026 but the vendors are insisting on a completion date of 24/11/2026. Can one prolong the loan expiry date?
The person best placed to deal with your question is your lawyer who is in a position to assess whether they should be discussing with the bank, seller’s solicitors, property agents or possibly all parties given the circumstances your conveyancing to date.
The Folkestone conveyancing solicitors that I recently instructed on my house acquisition in Folkestone have suddenly shut down. I only went with them because I needed a lawyer on the Virgin Money conveyancing panel and my family Folkestone lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Me and my partner are purchasing a house in Folkestone. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
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.
What is your number one tip for choosing a conveyancing solicitor in Folkestone
It would be unwise to be swayed by the lowest Folkestone conveyancing fees. 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.
We had instructed conveyancers with offices in Folkestone on the Nationwide solicitor panel. They are now charging me a separate amount for the legal aspects of the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancer can levy a fee for this. The fee is not set by Nationwide but by your Folkestone conveyancing practitioner. Numerous firms on the Nationwide panel will quote an ‘acting for lender’ fee and others do not.
How does conveyancing in Folkestone differ for newly converted properties?
Most buyers of new build residence in Folkestone come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Folkestone tend to acquire 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 Folkestone or who has acted in the same development.
How do I use the search app to find a conveyancing solicitor in Folkestone on the panel for my mortgage?
Step one is to pick a mortgage company such as Birmingham Midshires, Barnsley Building Society or Clydesdale then choose your location such as Folkestone. Conveyancing practices in Folkestone and further afield will then be listed.
Last April I purchased a leasehold flat in Folkestone. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part 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).
Folkestone Leasehold Conveyancing - A selection of Queries Prior to buying
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Make sure you investigate if there are any onerous prohibitions in the lease. For instance it is fairly common in Folkestone leases that pets are not allowed in in a block in Folkestone. If you like the propertyin Folkestone yet your cat can’t move with you then you have a very hard compromise. The answer will be useful as a) areas could cause problems in the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will wish to have all the details