We were just about to sign contracts for a property in Tutbury. We have hit a problem. Our mortgage offer with Halifax expires on 5/1/2026 but the owners are putting forward a completion date of 7/1/2026. Can one extend the loan offer?
The person best placed to address this concern is your conveyancer who will hopefully determine whether he or she is corresponding with the mortgage broker, owner’s solicitors, estate agents or possibly all parties taking into account the history of your conveyancing as of today.
Do lawyers ask for money on account for conveyancing in Tutbury?
If you are buying a property in Tutbury your solicitor will ask you place them with funds to cover the search fees. Ordinarily this is needed to cover the fees of the conveyancing searches. If any deposit is payable against the purchase price then this should be required immediately ahead of exchange of contracts. Any further balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.
Is it the case that all Tutbury solicitor practices on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB conveyancing panel they would need to be governed by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Tutbury off the council. I have a mortgage offer with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
The mortgage over my property is with UBS for my property in Tutbury. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
How does conveyancing in Tutbury differ for newly converted properties?
Most buyers of new build residence in Tutbury approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Tutbury tend to purchase the land, 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 used to new build conveyancing in Tutbury or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Tutbury prior to instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders will refuse to issue a loan on this type of house.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tutbury. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I am about to part with £400,000 on 3 bedroom house in Tutbury I would like to have a conversation with the conveyancer regarding thehome move prior to instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer who will be conducting your property ownership legalities in Tutbury.There is no ‘factory style conveyancing’ - every client is an important person, not a matter number. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Tutbury should be the figure that you end up paying.