We are about to exchange contracts for a semi detached house in Broughton. We encountered a problem. The loan offer with Chelsea Building Society expires on 11/11/2024 but the sellers are suggesting a completion date of 13/11/2024. Is it possible to prolong the loan offer?

The person best placed to deal with your question is your conveyancer who is in a position to assess if they corresponding with the mortgage broker, vendor’s solicitors, property agents or conceivably all parties taking into account the circumstances your transaction as of today.

Can you clarify what the consequences are if my lawyer’s firm is suspended from the Lloyds Solicitor panel ahead of completing my conveyancing in Broughton?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

About to purchase a new build flat in Broughton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Broughton

Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.

If all goes to plan we aim to complete our sale of a £300,000 flat in Broughton in six days. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Broughton?

Broughton conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They are at liberty to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.

Broughton Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

If a Broughton lease has no more than eighty years it will have adverse implications on the value of the apartment. Check with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and it is worth discovering how much this would cost. For most Broughtonlease extensions you would need to own the premises for 24 months in order to be legally able to carry out a lease extension. Are any of leasehold owners in dispute over their service charge payments? Is anyone aware of any major works in the near future that could add a premium to the maintenance costs?

My wife and I today become aware that one of the directors of the law firm undertaking the purchase conveyancing in Broughton is related to the vendor. Is this allowed?

On the basis that no conflict arises this is permitted. Where you are obtaining a home loan then the lender may have a say as many banks have specific requirements concerning this. For example for RBS - Direct Line as of 11/9/2024, the requirements read as follows :