We were just about to sign contracts for a leasehold flat in Shepton Mallet. We encountered a snag. Our loan offer with Platform Home Loans Ltd expires on 5/9/2025 but the owners are putting forward a completion date of 9/9/2025. Can one prolong the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will hopefully calculate whether they better off negotiating with the lender, owner’s representatives, property agents or conceivably all parties taking into account the history of your house move as of today.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Shepton Mallet. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 5/7/2025, the requirements read as follows :
A colleague informed me that in buying a property in Shepton Mallet there may be various restrictions prohibiting external alterations to the property. Is this right?
There are anumerous of properties in Shepton Mallet which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Shepton Mallet should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Please help - my lawyer says that missing deeds insurance is necessary on my purchase. What is the level of cover for Shepton Mallet conveyancing?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
Last month we had a mortgage agreed in principle with UBS. Shepton Mallet conveyancing practitioners are selected. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS conducted the valuation? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Will commercial conveyancing searches reveal planned roadworks that could affect a commercial premises in Shepton Mallet?
Many commercial conveyancing solicitors in Shepton Mallet will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Shepton Mallet. The search result 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 Shepton Mallet.
For each commercial conveyancing transaction in Shepton Mallet it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Shepton Mallet commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Shepton Mallet.
Due to the input of my in-laws I had a survey completed on a house in Shepton Mallet before instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend not issue a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shepton Mallet. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shepton Mallet to see if the conveyancing will be more expensive.
I would like to sublet my leasehold apartment in Shepton Mallet. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
The lease governs relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Shepton Mallet do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I own a leasehold flat in Shepton Mallet, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Shepton Mallet with over 90 years remaining are worth £176,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2105
With just 80 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.