We are about to sign contracts for a garden flat in Folkestone. We encountered a problem. The loan offer with Nationwide Building Society runs out on 20/11/2026 but the sellers are suggesting a completion date of 24/11/2026. Is it possible to extend the loan expiry date?
The person best placed to deal with your concern is your conveyancer who will calculate if they corresponding with the mortgage company, vendor’s representatives, selling agents or indeed all parties given the history of your transaction as of today.
The Folkestone conveyancing lawyers that I recently instructed on my purchase in Folkestone have without warning closed. I chose them because I had to have a lawyer on the Nottingham conveyancing panel and my preferred Folkestone lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham 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 may be able to assist.
Me and my partner are buying a flat in Folkestone. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to deposit funds 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.
There is lots of information on this site regarding conveyancing in Folkestone but what is your top tip for choosing the right conveyancer in Folkestone
It would be unwise to be tempted by the lowest Folkestone conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. 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 chosen conveyancers locally in Folkestone on the Nottingham solicitor approved list. They have just billed me an additional amount for dealing with the Nottingham mortgage. Is this a supplemental conveyancing fee set by Nottingham?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. The fee is not set by Nottingham but by your Folkestone property lawyer. Some firms on the Nottingham panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
How does conveyancing in Folkestone differ for newly converted properties?
Most buyers of new build residence in Folkestone contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Folkestone usually acquire the real estate, 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 conveyancers 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.
Is it simple use the search app to locate a conveyancing practitioner in Folkestone on the approved list for my lender?
Step one is to select a bank such as Accord Mortgages Ltd, Skipton Building Society or Nottingham Building Society then type in your location such as Folkestone. Conveyancing firms in Folkestone and further afield should be shown.
I've recently bought a leasehold house in Folkestone. Am I liable to pay service charges for periods before completion of my purchase?
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. However, 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 be sure 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 - Examples of Queries before buying
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Its a good idea to discover as much as you can regarding the managing agents as they can either make life much simpler or problematic. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the communal areas. Ask other tenants if they are happy with their service. In conclusion, be sure you know the dates that the maintenance fees are due to the managing agents and precisely what it includes. What is the length of the lease?