We are about to exchange contracts for a freehold house in Selly Oak. We have hit a snag. The mortgage offer with The Royal Bank of Scotland expires on 26/1/2026 but the vendors are suggesting a completion date of 28/1/2026. Is it possible to extend the loan offer?
The best person to deal with your concern is your conveyancer who is in a position to calculate whether they corresponding with the mortgage broker, seller’s lawyers, selling agents or conceivably all parties taking into account what has gone on in your conveyancing as of today.
We're in Selly Oak, First timers buying with a mortgage (lender is Santander , and our solicitor is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am looking for a flat up to £245,000 and found one round the corner in Selly Oak I like with open areas and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Selly Oak in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I was advised by three or four local property agents in Selly Oak to get a quote from a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to market your site over a competitor’s?
We don’t make any referral fee for sending work our way. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are a couple of weeks into a residential purchase having been referred to solicitors by the local agent to carry out the conveyancing in Selly Oak. I am am very disappointed with the quality of service. Can you help me find new lawyers?
They would need to be really bad to suggest replacing them. Has the loan offer been generated? If so you must advise them of the new contact details and ensure the loan are issued to the new lawyers. The solicitor ideally needs to be on the banks approved list to avoid escalating expenses and delays. That should be your first question of the new conveyancers. Our find a solicitor tool can help you find a bank approved conveyancer for your home move in Selly Oak