We are about to sign contracts for a freehold house in Felpham. We encountered a stumbling block. Our mortgage offer with Britannia runs out on 17/9/2025 but the sellers are putting forward a completion date of 19/9/2025. Can one prolong the loan offer?
The person best placed to deal with your question is your conveyancer who will hopefully assess whether he or she is should be discussing with the mortgage company, seller’s solicitors, estate agents or possibly all parties given the history of your house move as of today.
In what way does my ID and proof of funds have anything to do with my conveyancing in Felpham? What am I being asked for?
Felpham conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to supply two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (usually a Utility Bill no older than three months).
Evidence of source of monies is also necessary in compliance with the money laundering laws as solicitors are mandated to check that the funds you are utilising to buy a property (be it the exchange deposit or the total purchase amount if you are buying mortgage free) has come from legitimate source (such as employment savings) and is not the proceeds of criminal activity.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Felpham? or Apparently there is a law dating back centuries that means some homeowners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this relevant for conveyancing in Felpham?
Unless a prior acquisition of the premises completed post 12 October 2013 you may assume that solicitors delivering conveyancing in Felpham to continue to advocate a chancel search and or chancel repair liability insurance.
How does conveyancing in Felpham differ for new build properties?
Most buyers of new build property in Felpham contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Felpham usually 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 accustomed to new build conveyancing in Felpham or who has acted in the same development.
Am I better off to appoint a Felpham conveyancing solicitor based in the location that I am hoping to buy? I have an old university friend who can carry out the legal formalities but his firm is located 400kilometers drive away.
The primary upside of using a high street Felpham conveyancing practice is that you can pop in to sign paperwork, hand in your ID and apply pressure on them if necessary. Having local Felpham know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were content that must outweigh using an unknown Felpham conveyancing solicitor solely due to them being based in the area.