We are a couple about to sign contracts for a semi detached house in Pentwyn. We have hit a snag. Our mortgage offer with Bank of Ireland expires on 25/6/2024 but the vendors are suggesting a completion date of 27/6/2024. Can one extend the loan expiry date?
The best person to address this concern is your solicitors who will determine if they should be discussing with the mortgage broker, vendor’s representatives, selling agents or indeed all three based on what has happend in your conveyancing as of today.
Have just purchased a repossessed house at auction in Pentwyn. Conveyancing is needed. What is next?
Given that you are now for all intents and purposes signed on the dotted line you should find a conveyancing practitioner soon as you are facing a pending a drop dead date to complete the deal. All auction property should have a bespoke auction pack. This will include evidence of title and search results. In the case of leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must hand this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Pentwyn conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS done the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We expect to receive a DIP from Lloyds this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Pentwyn solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Pentwyn solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I have a terraced Edwardian house in Pentwyn. Conveyancing solicitor represented me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. Is it worth asking Bank of Scotland to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pentwyn and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the work.
How does conveyancing in Pentwyn differ for new build properties?
Most buyers of new build or newly converted property in Pentwyn come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Pentwyn usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Pentwyn or who has acted in the same development.
Should I be wary that brokers that I am dealing with are recommending a national conveyancing firm as opposed to a local Pentwyn conveyancing company?
As is the case with lots of service providers, often referrals from family and friends can be worth their weight in gold. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to appoint. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You have the discretion to choose your own conveyancer. However, bear in mind that many mortgage providers specify a panel list of conveyancers you are obliged to use for the mortgage related work in your transaction.
In searching the web for the phrase on line conveyancing in Pentwyn it reveals numerous solicitorsin the area. How do I determine which is the suitable solicitor for purchase transaction?
The best way of seeking a suitable conveyancer is through a trusted testimonial, so enquire of friends and relatives who have acquired a property in Pentwyn or a respected estate agent or mortgage broker. Fees for conveyancing in Pentwyn vary, so it's a good idea to request a minimum of three estimates from varying types of solicitors. Make sure that you know that the fees are fixed.