We are about to exchange contracts for a property in Dulverton. We encountered a stumbling block. The loan offer with Platform Home Loans Ltd expires on 13/2/2025 but the owners are insisting on a completion date of 17/2/2025. Is it possible to prolong the mortgage expiry date?

The person best placed to deal with your question is your solicitors who will hopefully calculate whether he or she is should be discussing with the mortgage broker, owner’s lawyers, estate agents or possibly all three given the history of your transaction to date.

What is the difference between a licensed conveyancer and conveyancing solicitor in Dulverton

There are many recorded licenced Conveyancers in Dulverton and Solicitor firms in Dulverton offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

It is unclear whether my lender requires a lease extension. I have called my Dulverton building society branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Dulverton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their specific requirements. Who do I believe?

Your lawyer must comply with the CML Handbook Part 2 requirements for your lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

My offer on a house in Dulverton has been accepted, the sellers do nevertheless have a connected purchase. The vendors have offered on a flat, but it’s not been accepted yet, and have viewings of other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Dulverton. What should be my next step? At what stage should I apply for the mortgage with Leeds Building Society?

It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Dulverton conveyancing search charges, etc). First, you should ensure that your conveyancing practitioner is on the Leeds Building Society approved list. Regarding the next stages this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. During a rising market many home buyers would apply for a home loan with Leeds Building Society and arrange for the valuation and only if it was satisfactory would they pay their solicitor to move forward with the conveyancing in Dulverton.

Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Dulverton I like with a park and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in Dulverton for this price, so just wondered if I would be making a mistake acquiring a short lease?

Should you need a home loan the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years 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 existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.

What makes your site different to alternative web based conveyancing brokers for conveyancing in Dulverton?

At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Dulverton. As opposed to estate agents and many comparison sites we do not have referral deals with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the highest kickback, rather than the best value conveyancing in Dulverton

I've recently bought a leasehold house in Dulverton. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am the registered owner of a basement flat in Dulverton, conveyancing having been completed March 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Dulverton with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2101

With only 77 years left to run the likely cost is going to span between £7,600 and £8,800 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.