We are a couple about to exchange contracts for a leasehold flat in Holmes Chapel. We encountered a stumbling block. The mortgage offer with Norwich and Peterborough Building Society runs out on 4/2/2026 but the sellers are insisting on a completion date of 6/2/2026. Is it possible to prolong the loan expiry date?
The best person to address this concern is your conveyancer who will hopefully calculate whether they should be discussing with the mortgage company, vendor’s representatives, selling agents or indeed all three taking into account what has happend in your conveyancing to date.
I have been told by my lawyer that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Holmes Chapel?
The appropriate level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Skipton Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I had a mortgage agreed in principle with Yorkshire BS. Holmes Chapel conveyancing lawyers have been appointed. How long does it take for Yorkshire BS to forward the offer to the conveyancer?
Some lenders take longer than others. Have Yorkshire BS conducted the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local Holmes Chapel building society branch on various occasions and was told they are content with the situation and they will lend. My Holmes Chapel conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The solicitor must comply with the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will our lawyer be asking questions concerning flooding during the conveyancing in Holmes Chapel.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Holmes Chapel. Some people will purchase a house in Holmes Chapel, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the purchaser or by their lawyers which will give them a better appreciation of the risks in Holmes Chapel. The standard property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to determine whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser may commence a compensation claim as a result of such an inaccurate response. The purchaser’s conveyancers may also commission an environmental search. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be made.
How does the Landlord & Tenant Act 1954 impact my business offices in Holmes Chapel and how can your lawyers assist?
The 1954 Act provides a safeguard to business lessees, granting the dueness to apply to court for a renewal lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Holmes Chapel is one of our hundreds of locations in which the firms we work with have offices
In scouring the world wide web for the term on line conveyancing in Holmes Chapel it reveals many conveyancersin the area. How do I determine which is the right conveyancer for the sale of my house?
The preferential method of choosing the right conveyancer is via personal recommendation, so enquire of friends and those you trust who have purchased a property in Holmes Chapel or a local estate agent or mortgage broker. Costs for conveyancing in Holmes Chapel vary, so it's sensible to request at least four quotes from varying types of companies. Make sure that you know that the charges are guaranteed not to to be inflated.