We are about to exchange contracts for a ground floor flat in Kearsley. We have hit a stumbling block. Our mortgage offer with Bank of Scotland expires on 28/10/2026 but the vendors are suggesting a completion date of 30/10/2026. Can one extend the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will hopefully determine whether he or she is better off negotiating with the mortgage company, seller’s conveyancers, selling agents or possibly all parties taking into account the circumstances your transaction to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Kearsley? What am I being asked for?
In order to comply with Money Laundering Regulations any Kearsley conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are required to investigate not simply the identity of conveyancing clients but also the origin of fund that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
I am assisting my mother sell her property in Kearsley. Will the conveyancing solicitor order an energy assessment or do I organise this?
After the demise of Home Information Packs, EPC’s was retained a mandatory component of selling a property. An energy assessment needs to be to hand prior to the property being placed on the market. This is not something that law firms ordinarily organise. Where you are using a Kearsley conveyancing solicitor they might help arrange EPC’s due to their relationships with reputable Kearsley energy assessors
When it comes to lenders such as HSBC, do Kearsley solicitors have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is it the case that all Kearsley solicitor firms on the HSBC conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do allow licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
I have been told that property searches are a common reason for delay in Kearsley conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Kearsley.
How does conveyancing in Kearsley differ for new build properties?
Most buyers of new build or newly converted property in Kearsley contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Kearsley 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 property lawyers 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 Kearsley or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Kearsley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kearsley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kearsley you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kearsley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.