We were just about to exchange contracts for a semi detached house in Petersfield. We encountered a snag. The mortgage offer with Chelsea Building Society expires on 8/6/2026 but the vendors are putting forward a completion date of 10/6/2026. Is it possible to extend the mortgage expiry date?
The best person to address this issue is your lawyer who will hopefully calculate if they better off negotiating with the mortgage company, vendor’s conveyancers, property agents or possibly all parties taking into account the circumstances your conveyancing to date.
Do all mortgage companies provide you with an approved list of Petersfield conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?
Petersfield conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
What is the best way to discover of the solicitor conducting my conveyancing in Petersfield is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus spending £192.00 in supplemental legal costs.
You should take advantage of the find a conveyancing panel solicitor tool on this page. Pick the lender and type ‘Petersfield’ or your location and you will be presented with a number of lawyer offices in Petersfield or by proximity to you.
Are all Petersfield Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved firms?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
We had selected conveyancers locally in Petersfield on the Lloyds solicitor panel. They have just billed me a supplemental charge for dealing with the Lloyds mortgage. Is this a supplemental conveyancing fee specified by Lloyds?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer may levy a fee for this. The fee is not dictated by Lloyds but by your Petersfield solicitor. Some firms on the Lloyds panel will levy an ‘acting for lender’ fee but plenty of practices incorporate it on their overall fee.
My husband and I have organised a further advance on our mortgage from Yorkshire BS as we intend to conduct improvements to our property in Petersfield. Do we need to select a nearby Petersfield solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS don't usually appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS list.
I purchased a semi-detached Georgian property in Petersfield. Conveyancing solicitor represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Petersfield and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the work.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Petersfield I like with amenity areas and station nearby, however it only has 52 years on the lease. I can't really find anything else in Petersfield in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.