We are about to sign contracts for a ground floor flat in Sale. We encountered a problem. Our mortgage offer with Aldermore runs out on 10/4/2025 but the sellers are insisting on a completion date of 14/4/2025. Can one prolong the mortgage expiry date?
The person best placed to address this question is your conveyancer who should assess whether he or she is better off negotiating with the bank, seller’s solicitors, property agents or indeed all three given what has gone on in your house move as of today.
We're in Sale, First timers purchasing with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are all Sale Conveyancing Quality Solicitors on the HSBC conveyancing panel?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation 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 solicitors wishing to join their panels.
is it true that all Sale conveyancing solicitors on the Bank of Ireland conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
About to purchase apartment in Sale. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sale solicitor is on the TSB conveyancing panel.
I moved into my house on 9 June and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Sale expressed confidence that it should be dealt with in a couple of weeks. Are transfers in Sale particularly slow to register?
There is nothing unique when it comes to conveyancing in Sale registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. As of today roughly three quarters of submission are fully dealt with within 12 days but occasionally there can be longer hold-ups. Registration occurs once the purchaser is living at the property therefore registration formalities is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing a new build house in Sale with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not to tell my lawyer about the deal as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Our sealed bid on semi in Sale has been agreed to, but there is a chain. The sellers have submitted an offer on a property, although it’s not yet tied up, and has viewings of other flats booked. I have instructed a nearby conveyancing solicitor in Sale. What do I do now? At what point do I apply for the mortgage with Aldermore?
It is usual to have anxieties where there is a chain given your reluctance to incur costs too early (home loan application is approx £1k, then survey, Sale conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Aldermore conveyancing panel. As to the next steps this very much depends on the specifics of your transaction, desire for the property and on the state of the market. During a rising market many buyers would apply for the mortgage with Aldermore and pay for the survey and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Sale.