We were just about to sign contracts for a leasehold flat in Rowen. We encountered a problem. The loan offer with Virgin Money runs out on 12/11/2020 but the sellers are putting forward a completion date of 16/11/2020. Can one extend the loan offer?
The person best placed to address this issue is your solicitors who is in a position to calculate whether he or she is corresponding with the mortgage broker, owner’s conveyancers, property agents or indeed all parties given what has gone on in your house move as of today.
Finally the sale completed on my house in Rowen last April but our buyer keeps SMS messaging me to say her lawyer is waiting to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your disposal your lawyer is obliged to send the transfer documentation and all of the paperwork to the buyer’s solicitors. Where appropriate, your lawyer must also confirm that the mortgage has been repaid to the purchasers lawyers. There is unlikely to be post completion procedures specific conveyancing in Rowen.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Rowen I like with amenity areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Rowen for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Do I need to be suspicious that brokers that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Rowen conveyancing company?
As is the case with lots of professional services, often suggestions from connections can be extremely useful or valuable. But there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend lawyers to appoint. On occasion the solicitors might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You are free to select your preferred conveyancer. You need to be aware that some banks have an approved list of conveyancers you are obliged to use for the lender aspect of your transaction.
As co-executor for the will of my uncle I am selling a residence in Cardiff but reside in Rowen. My solicitor (who is 260 miles awayrequires that I sign a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Rowen who can attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Rowen based
I am an executor of my recently deceased mother’s Will, with a property in Rowen which will be marketed. The property is unregistered at the Land Registry and I'm told that many buyers solicitors will insist that it is in place before they will proceed. What's the mechanism for this?
In the circumstances you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.