We were just about to sign contracts for a ground floor flat in Sandwich. We have hit a problem. The loan offer with Barnsley Building Society runs out on 22/1/2026 but the vendors are suggesting a completion date of 26/1/2026. Can one prolong the loan expiry date?
The best person to deal with your concern is your solicitors who is in a position to assess if they better off negotiating with the mortgage broker, vendor’s lawyers, estate agents or conceivably all parties given the circumstances your house move to date.
I'm purchasing my first flat in Sandwich with a mortgage from Britannia. The developers would not move on the amount so I negotiated 6k of extras instead. The estate agent suggested that I not to tell my solicitor about this deal as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Sandwich I like with open areas and transport links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Sandwich suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
My husband and I are a couple of weeks into a residential purchase having been referred to solicitors by the selling agent to do our conveyancing in Sandwich. I am am starting to be disappointed with the level of service. Can you help me find new solicitors?
A solicitor would have to be very poor to suggest diss instructing them. Has the loan offer been sent? If so you will need to advise them of the new contact details and get the mortgage documents are re-issued. Your conveyancer needs to be on the lenders approved list to avoid added charges and frustration. So that should be your first question of the new solicitors. Our search tool can help you find a lender approved lawyer for your home move in Sandwich
Can you provide any top tips for leasehold conveyancing in Sandwich from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Sandwich can be reduced if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Sandwich state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the consents in place you should not communicate with the landlord without checking with your lawyer in the first instance. Some Sandwich leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
I bought a garden flat in Sandwich, conveyancing was carried out 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Sandwich with a long lease are worth £180,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2083
With 58 years unexpired the likely cost is going to span between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I am due to assess costs for conveyancing in Sandwich from three lawyer and appoint one. Am I right to get them to hold tight until I have found somewhere to purchase.
You should only request your property lawyer to open a file and submit searches once the offer has been accepted on the property especially as Sandwich conveyancing searches are a couple of hundred pounds.