We are about to sign contracts for a ground floor flat in Poole. We encountered a snag. Our loan offer with Norwich and Peterborough Building Society expires on 11/11/2025 but the owners are suggesting a completion date of 13/11/2025. Is it possible to extend the loan offer?
The person best placed to address this concern is your conveyancer who will hopefully assess if he or she is corresponding with the lender, seller’s representatives, selling agents or conceivably all three based on the circumstances your conveyancing to date.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Poole?
Two types of professional can do conveyancing in Poole namely CLC regulated conveyancers or solicitors. The two can provide the legal services that required to complete the sale or purchase of property. Both are duty bound to carry out Poole conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally carried out and that all requisite procedures will be appropriately followed.
When it comes to mortgage companies such as Aldermore, do Poole property lawyers have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Kent Reliance have agreed my home loan in principle, my offer on a property in Poole has been accepted, what happens next?
Your property agent will wish to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Telephone Kent Reliance or your broker and finalise any outstanding paperwork. Kent Reliance will instruct a valuer who will get in touch with the estate agent or seller to arrange a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Kent Reliance will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Poole.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a residence in Poole? or Apparently there is historic law that means some house owners residing in a parish church boundary will be compelled to pay for repairs to the chancel in proximity to the church. Is this suitable for conveyancing in Poole?
Unless a previous acquisition of the house took place post 12 October 2013 you could take it that lawyers carrying out conveyancing in Poole to continue to advocate a chancel search and or insurance against a claim.
Just had an offer accepted on a new build flat in Poole. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Poole
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I need to instruct a conveyancing lawyer in Poole for my home move. Can I see a firm’s record with the profession’s regulator?
Anyone may read presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after Jan 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA could monitor call for training purposes.
I am tempted by the attractive purchase price for a couple of apartments in Poole which have approximately forty five years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Poole is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Poole conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a 1 bedroom flat in Poole, conveyancing having been completed in 2012. How much will my lease extension cost? Corresponding properties in Poole with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2084
With just 59 years unexpired we estimate the price of your lease extension to range between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.