We are a couple about to exchange contracts for a garden flat in Grantham. We encountered a problem. Our loan offer with Barnsley Building Society expires on 12/2/2025 but the vendors are putting forward a completion date of 14/2/2025. Is it possible to prolong the mortgage offer?
The person best placed to address this concern is your conveyancer who will hopefully assess if he or she is better off negotiating with the mortgage broker, vendor’s lawyers, property agents or possibly all three given what has happend in your transaction to date.
We're in Grantham, FTBs buying with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We are downsizing from our house in Grantham and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the buyers used an internet conveyancing outfit rather than a conveyancing solicitor in Grantham. Having lived in Grantham for 4 years we know of no issue. Should we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
My husband and I are new to the buying process - agreed a price, but the selling agent has warned us that the owners will only go ahead if we appoint their chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Grantham
It is improbable the sellers are driving this. Should the owner desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Contact the owners directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you will continue to use your preferred Grantham conveyancing solicitors - not the ones that will earn their estate agent a commission or hit his conveyancing figures set by senior management.
I am in need of some leasehold conveyancing in Grantham. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Grantham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a 2 bed flat in Grantham, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Grantham with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2084
With 60 years left to run the likely cost is going to range between £20,000 and £23,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
My fiance and I have just had an offer agreed on a property and had an appointment on Tuesday with Leeds Building Society for the mortgage. They have informed us that when it comes to appointing a conveyancer that unless they are on their approved panel of conveyancing practitioners then we will be subject to an an extra fee of about two hundred pounds. This is because they will then have to appoint a solicitor to act for them as well as the one we appoint for ourselves and we will be on the hook for their fees. I have asked Leeds Building Society to send me with a list so I can obtain estimates only from their approved solicitors but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of Leeds Building Society what their panel criteria is for a solicitor.Thereafter ask the solicitor of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society historically. Where the answer to those is yes, then just double check with Leeds Building Society. Another option is to utilise our search facility and we should be able to find you a property lawyer in Grantham on the panel for Leeds Building Society.