We were just about to sign contracts for a garden flat in Holbrook. We encountered a problem. Our mortgage offer with Accord Mortgages Ltd expires on 10/12/2026 but the owners are putting forward a completion date of 14/12/2026. Can one extend the mortgage expiry date?
The best person to deal with your question is your conveyancer who is in a position to calculate if they corresponding with the mortgage company, owner’s lawyers, estate agents or possibly all three based on what has gone on in your conveyancing to date.
We see that you have a post code search directory listing law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Holbrook?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Holbrook.
I am refinancing my flat in Holbrook, does my lawyer need to be on the Santander Solicitor panel?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My uncle informed me that in buying a property in Holbrook there could be a number of restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Holbrook which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Holbrook should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My lawyer has informed me that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Holbrook?
The appropriate level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
We previously selected solicitors locally in Holbrook on the TSB solicitor approved list. They are now charging me a separate fee for the legal aspects of the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor may charge a fee for this. The fee is not dictated by TSB but by your Holbrook conveyancing practitioner. Numerous firms on the TSB panel will quote an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
I am buying a new build house in Holbrook benefiting from help to buy. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not to tell my solicitor about the extras as it will impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £235,500 and identified one close by in Holbrook I like with amenity areas and station nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Holbrook in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.