We are about to sign contracts for a ground floor flat in Sherborne. We encountered a problem. Our mortgage offer with Britannia runs out on 20/8/2025 but the owners are suggesting a completion date of 22/8/2025. Can one prolong the loan expiry date?
The person best placed to address this question is your solicitors who is in a position to determine whether he or she is corresponding with the lender, seller’s solicitors, property agents or indeed all parties taking into account the history of your conveyancing to date.
Completed the sale of my flat in Sherborne last March but the buyer keeps texting me to moan that his conveyancer is waiting to hear from mysolicitor. What are the post completion sale legalities now that I have sold?
Post completion of your disposal your lawyer should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. If applicable, your solicitor should also confirm that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There is unlikely to be post completion steps just for conveyancing in Sherborne.
I am aiming to move property in September. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you put forward a removal company in Sherborne. Conveyancing lawyer was organised prior to coming across your page.
On the afternoon of completion you can pick up the house keys from your estate agent but this should only happen when the sellers lawyers inform the agent that the monies to complete are in and the keys can be given over. After that you can inform the removal company that you are ready to move in. We do not suggest a specific removal organisation but can assist you in locating a residential property solicitor in Sherborne or a firm that specialises in conveyancing in Sherborne.
We were going to get a DIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Sherborne solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Sherborne solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
My fiancee and I are in the process of viewing apartments in Sherborne and I am now considering a potential offer. Is it sensible to have my lawyer on ‘stand by’? I will be getting a home loan with Aldermore.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are obtaining a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
How does conveyancing in Sherborne differ for newly converted properties?
Most buyers of new build premises in Sherborne approach 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 Sherborne usually buy 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 conveyancers 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 accustomed to new build conveyancing in Sherborne or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Sherborne is the location of the property. Can you shed any light on this issue?
Flying freeholds in Sherborne are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sherborne you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sherborne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Last December I purchased a leasehold house in Sherborne. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Sherborne Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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In the main the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Sherborne ask leasehold owners to pay into a sinking fund and this is used to offset against larger works. If a Sherborne lease has less than eighty years it will impact the value of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering how much this will be. For most Sherbornelease extensions you would be be obliged to have owned the property for two years in order to be eligible to extend the lease. Who takes charge for maintaining and repairing the block?