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Holbrook and Co - Specialists in helping people buy, sell and mortgage property

Frequently asked questions


Holbrook & Co Property lawyers and Conveyancers offer services throughout Warrington and Cheshire, and can deal with any house sale or purchase anywhere in England & Wales.

Q. How long will the process of buying or selling a home take?

A. The average time taken, is usually between six and eight weeks. This depends on the length of the chain (if any) and whether you are making a mortgage application.

Q. Do I need a deposit?

A. Ideally, a buyer should pay a 10% deposit, where they are obtaining a mortgage advance for 90% or less towards the purchase price. However as people sometimes borrow more than 90% from their Lender, it is common for the deposit to be reduced accordingly. If you are simultaneously selling and buying, it is usual for the deposit received from your buyer to be forwarded to your seller’s Conveyancer.

Q. If I am receiving a “gifted deposit”, do I need to make this known?

A. All incentives, including family gifts or Seller`s cashbacks, must be disclosed to your mortgage lender. We will do this for you.

Q. When do I need to arrange buildings insurance?

A. You must arrange buildings insurance from exchange of contracts as the property will be at your risk from that time.

Q. What are pre-contract enquiries?

A. Obtaining details of any alterations/ additions to the property and ensuring that planning consents have been obtained, checking guarantees, disputes etc.

Q. Is it possible for completion to take place at the weekend?

A. No. Completion has to be geared to take place on the same day as the funds are transferred in the property transaction. Banks are only able to transfer money electronically Monday to Friday.

Q. Would it be possible for someone such as a family member to send funds to you on my behalf?

A. No. This is due to anti money laundering regulations. We are unable to accept funds from third parties. It is important therefore that funds are first paid to you before being sent to us direct from your own bank account.

Q. What is the difference between a freehold and a leasehold property?

A. A Freehold property is one where you own the property and the land on which the property is built outright. A Leasehold property is when you rent the land on which the property is built. Leases can be granted for any number of years but commonly they are from 99 to 999 years. At the end of the Lease you would be able to negotiate an extension of the term of the lease, so that in practical terms, it can never run out. However, some Lenders are unwilling to lend on lease terms of less than 95 years.

Q. What should I do in readiness for my house move?

A. Once you have your completion date, you will need to think about organising moving in, and ensure that you:
• Contact gas, electricity, water and telephone suppliers to arrange connection or continuity of service;
• Contact anyone who writes to you regularly with your change of address. You can also get post redirected to your new address for a period for the payment of a fee.
• Don’t forget to tell your employer, current account provider, investment/pension providers, DVLA, TV licensing, children’s schools, doctor, dentist, and anyone else who may need to know that you have moved.

We appreciated the regular updates we received which kept us in the picture at every stage.

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Holbrook & Co
Palmyra Square South
Warrington, Cheshire
WA1 1BL 01925 444422
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