We are a couple about to exchange contracts for a freehold house in Holbeach. We have hit a problem. The loan offer with Britannia expires on 20/2/2025 but the owners are putting forward a completion date of 24/2/2025. Can one extend the loan offer?
The person best placed to address this concern is your conveyancer who will calculate whether they corresponding with the mortgage company, owner’s conveyancers, selling agents or possibly all parties based on the history of your conveyancing to date.
we are a couple who are buying a newly converted flat in Holbeach with a homeloan from Barclays Direct.We use our Holbeach conveyancing practitioner but Barclays Direct informed us she’s not listed on their approved list of firms. We have to appoint a Barclays Direct panel lawyer or retain our high street solicitor and fork out for a Barclays Direct panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you contains terms and conditions, one of which will be that conveyancers must be on the Barclays Direct approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Barclays Direct
My relative recommended that if I am buying in Holbeach I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Holbeach conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Holbeach around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Holbeach Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Holbeach Education with plans and statistics, Local Amenities and other useful information concerning Holbeach.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Holbeach I like with a park and railway links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Holbeach suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the shortness of the lease will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Given that I will soon part with 450k on a property in Holbeach I would like to have a conversation with the solicitor concerning thehome move in advance of giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your property ownership legalities in Holbeach.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Holbeach should be the amount on the final invoice that you end up paying.
My conveyancer in Holbeach has requested from me proof of ID documents saying that this is part of his legal duty as a conveyancer on the bank Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require Holbeach conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements