We were just about to sign contracts for a freehold house in Suffolk. We have hit a problem. Our loan offer with HSBC Bank runs out on 28/7/2026 but the vendors are insisting on a completion date of 30/7/2026. Can one extend the mortgage offer?
The best person to deal with your question is your solicitors who should calculate if they should be discussing with the bank, vendor’s conveyancers, selling agents or indeed all three taking into account what has gone on in your conveyancing to date.
I own a semi-detached Georgian property in Suffolk. Conveyancing solicitor represented me and Aldermore. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Suffolk and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing practitioner who conducted the purchase.
How does conveyancing in Suffolk differ for newly converted properties?
Most buyers of new build premises in Suffolk approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Suffolk usually buy the site, 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 property lawyers 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 Suffolk or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Suffolk I like with amenity areas and railway links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Suffolk for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Is it possible to switch conveyancer as I have to retain a firm on the Coventry Building Society conveyancing list. I was using a family conveyancing solicitor in Suffolk five minutes from me but she is not accepted by Coventry Building Society
It would be our pleasure to help you select a conveyancing solicitor in Suffolk on the Coventry Building Society panel. Please note that the conveyancers that we work with do not pay us fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Suffolk. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Suffolk.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Suffolk. Conveyancing solicitors are to be appointed soon, but I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is pay the service charge as usual because all rents and service charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Suffolk Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
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How many of the leaseholders are in arrears for their service charge payments? The prefered form of lease structure is a share of the freehold. In this scenario the tenants enjoy control and although a managing agent is usually employed where the building is bigger than a house conversion, the managing agent employed by the leaseholders. Many Suffolk leasehold properties will have a service bill for the upkeep of the building levied on behalf of the freeholder. If you acquire the flat you will have to meet this amount, usually quarterly throughout the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a rentcharge to be met yearly, normally this is not a large amount, say about £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds.