We are a couple about to exchange contracts for a property in Littleport. We encountered a stumbling block. The mortgage offer with Birmingham Midshires expires on 13/4/2026 but the sellers are suggesting a completion date of 15/4/2026. Can one prolong the loan offer?
The person best placed to deal with your concern is your conveyancer who will assess if they corresponding with the mortgage broker, seller’s conveyancers, estate agents or indeed all three taking into account the circumstances your conveyancing as of today.
We are buying a flat in Littleport. I might seem paranoid but how we can trust a lawyer? At some point we will need to send our life savings into their account. What protection do we have from them run away with our money?
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.
We had chosen solicitors locally in Littleport on the Virgin Money solicitor approved list. They have just invoiced me an additional fee for the legal aspects of the Virgin Money mortgage. Is this a supplemental conveyancing fee set by Virgin Money?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer can charge a fee for this. This charge is not dictated by Virgin Money but by your Littleport conveyancing practitioner. Plenty of firms on the Virgin Money panel will levy an ‘acting for lender’ fee and others do not.
I'm at the point of viewing apartments in Littleport and I am about to put in an offer. Is it wise to have a lawyer on ‘stand by’? I will be getting a mortgage with TSB.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are seeking a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
Should our lawyer be asking questions regarding flooding during the conveyancing in Littleport.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Littleport. Some people will purchase a house in Littleport, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a numerous searches that can be undertaken by the purchaser or by their conveyancers which should figure out the risks in Littleport. The standard property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to find out if the property has historically flooded. In the event that the premises has been flooded in past and is not notified by the seller, then a purchaser could bring a compensation claim as a result of such an misleading reply. A purchaser’s solicitors will also order an enviro search. This will higlight if there is any known flood risk. If so, additional inquiries will need to be initiated.
I opted to have a survey carried out on a house in Littleport before instructing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders may not issue a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Littleport. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be wary by estate agents that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street Littleport conveyancing firm?
As with many service providers, often input from connections can be very helpful. Yet there are lots of players in a conveyancing deal; estate agents, financial adviser and banks may put forward conveyancers to retain. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the right to choose your preferred lawyer. However, bear in mind that the majority of lenders have an approved list of law firms you have to use for the lender related work in your home move.
My mortgage broker has suggested using their solicitor for our conveyancing in Littleport - Surely it’s easier to just use them?
It is not always the case and you are at liberty to instruct whichever solicitor you decide for your Littleport home move. The property lawyer suggested by a 3rd party adviser may not necessarily be the best conveyancer, they may suggest their preferred conveyancing firm who are based far away. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.