We are about to sign contracts for a garden flat in Raunds. We have hit a snag. Our mortgage offer with Britannia expires on 6/3/2026 but the sellers are putting forward a completion date of 10/3/2026. Can one prolong the loan offer?

The best person to deal with your concern is your solicitors who will hopefully determine if he or she is should be discussing with the bank, owner’s representatives, property agents or indeed all parties based on what has happend in your conveyancing as of today.

Please explain the implications if my lawyer’s firm is removed from the Aldermore Conveyancing panel ahead of completing my conveyancing in Raunds?

The first thing to point out is that, this is very unlikely to happen. 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.

Taking into account that I am about to part with £400,000 on 3 bedroom house in Raunds I would like to have a conversation with the lawyer concerning theconveyancing prior to instructing the firm. Can this be arranged?

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 due to be conducting your property ownership legalities in Raunds.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Raunds should be the amount on the final invoice that you are charged.

I am a negotiator for a busy estate agency in Raunds where we see a few flat sales derailed due to short leases. I have been given conflicting advice from local Raunds conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I own a split level flat in Raunds, conveyancing formalities finalised in 1996. Can you work out an approximate cost of a lease extension? Corresponding flats in Raunds with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease terminates on 21st October 2098

With just 72 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

I have finally had an offer on an maisonette in Raunds accepted, the vendor does nevertheless have a connected purchase. The sellers have submitted an offer on a property, although it’s not been accepted yet, and has viewings of other apartments booked. I have instructed a nearby conveyancing solicitor in Raunds. What do I do now? At what stage do I apply for the mortgage with UBS?

It is usual to have concerns where there is an associated chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then valuation, Raunds conveyancing search fees, etc). The first course of action is to ensure that your property lawyer is on the UBS approved list. Regarding the next phase this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a rising market some buyers would apply for the mortgage with UBS and arrange for the valuation and only if it was satisfactory would they request their conveyancer to proceed with searches.