We are a couple about to exchange contracts for a ground floor flat in Sawston. We encountered a snag. The loan offer with The Mortgage Works expires on 2/12/2026 but the owners are putting forward a completion date of 4/12/2026. Is it possible to prolong the mortgage offer?
The person best placed to address this concern is your conveyancer who will hopefully determine if he or she is should be discussing with the mortgage broker, owner’s conveyancers, property agents or possibly all parties taking into account the circumstances your house move to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Sawston? Why is this being asked of me?
Sawston conveyancing solicitors and indeed property practitioners accross the UK have an obligation under money laundering regulations to check the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Evidence of source of monies is also necessary in accordance with the money laundering laws as conveyancers are required to investigate that the funds you are using to acquire a property (be it the exchange deposit or the total purchase monies if you are buying mortgage free) has originated from an acceptable source (such as an inheritance) and is not the proceeds of criminal behaviour.
We're in Sawston, First timers purchasing with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer 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.
What is your number one tip for choosing a conveyancing solicitor in Sawston
We would encourage you not to base your choice on the cheapest Sawston conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I am assisting my sister sell her flat in Sawston. Will the solicitor order the energy performance certificate or it is for the owner to see to?
Following the demise of Home Information Packs, EPC’s was left as a compulsory part of moving house. An energy performance certificate should be commissioned before the property is put on the market. It is not a task that conveyancers normally organise. Where you are instructing a Sawston conveyancing solicitor they may be willing to arrange EPC’s due to their contacts with long established Sawston providers
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Sawston bank branch on a couple of occasions and was told it does not affect the mortgage offer and they would lend. My Sawston conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their specific requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the mortgage company approved list, they must adhere to the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Sawston differ for new build properties?
Most buyers of new build premises in Sawston come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Sawston typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sawston or who has acted in the same development.
What does commercial conveyancing in Sawston cover?
Non domestic conveyancing in Sawston covers a wide range of advice, supplied by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.