We are about to sign contracts for a semi detached house in Fareham. We have hit a problem. The mortgage offer with Bank of Ireland runs out on 31/3/2025 but the vendors are suggesting a completion date of 2/4/2025. Can one extend the mortgage expiry date?

The person best placed to deal with your issue is your lawyer who is in a position to determine whether he or she is corresponding with the bank, vendor’s representatives, property agents or conceivably all three based on what has happend in your transaction to date.

We're in Fareham, First time buyers buying with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property 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.

Will commercial conveyancing searches disclose impending roadworks that may impact a commercial site in Fareham?

Its becoming the norm that commercial conveyancing solicitors in Fareham will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Fareham. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fareham.

For every commercial conveyancing transaction in Fareham it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Fareham commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Fareham.

Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Fareham I like with a park and station nearby, the downside is that it only has 51 years on the lease. There is not much else in Fareham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.

I have just started marketing my basement flat in Fareham. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would as all rents and maintenance invoices will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Leasehold Conveyancing in Fareham - A selection of Queries Prior to Purchasing

The prefered form of lease structure is a share of the freehold. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the ground rent and service charge?