We were just about to exchange contracts for a freehold house in Sherborne. We encountered a stumbling block. The mortgage offer with Santander expires on 7/4/2026 but the vendors are putting forward a completion date of 9/4/2026. Can one prolong the mortgage offer?
The best person to address this concern is your lawyer who is in a position to assess whether they should be discussing with the mortgage broker, seller’s lawyers, selling agents or indeed all parties based on the circumstances your conveyancing to date.
I am considering remortgaging my house in Sherborne, does my lawyer need to be on the TSB Conveyancing panel?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
My stepmother informed me that in buying a property in Sherborne there may be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Sherborne which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Sherborne should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Sherborne solicitors on the Skipton conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I am expecting a OIP from Skipton this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Sherborne solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Sherborne solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I am looking for a ground for flat up to £245,000 and found one round the corner in Sherborne I like with amenity areas and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Sherborne for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I have today had an offer accepted on an apartment in Sherborne and the broker that we are dealing with recommended his conveyancing practitioner. They quoted £900 excluding VAT and 3rd party costs. Does this sound expensive?
Don't just go on a single estimate. One should seek like-for-like quotes for your conveyancing in Sherborne. Then choose one that you are comfortable with and just as important, is on the approved list of the bank that you have applied for a mortgage from.