We were just about to sign contracts for a ground floor flat in Wellington. We have hit a snag. Our mortgage offer with Barclays runs out on 1/7/2024 but the sellers are suggesting a completion date of 3/7/2024. Is it possible to prolong the mortgage offer?
The best person to deal with your question is your lawyer who should calculate whether they should be discussing with the bank, owner’s representatives, estate agents or indeed all three based on the circumstances your conveyancing to date.
Are the BSA planning on creating a online directory to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Wellington?
We are not aware of any plans on the part of the BSA to promote such a tool.
I have a terraced Victorian house in Wellington. Conveyancing solicitor represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be 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 Wellington and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the purchase.
I'm buying a new build house in Wellington with a loan from The Royal Bank of Scotland. The sellers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not to tell my conveyancer about the deal as it would jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Wellington cover?
Wellington conveyancing for business premises incorporates a broad range of advice, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Do you have any advice for leasehold conveyancing in Wellington with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Wellington can be avoided if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Organising a replacement share certificate can be a lengthy process and delays many a Wellington home move. Where a new share certificate is required, do contact the company officers or managing agents (where relevant) for this as soon as possible. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved. You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. A minority of Wellington leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
Leasehold Conveyancing in Wellington - A selection of Queries before Purchasing
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Who takes charge for maintaining and repairing the building? How long is the Lease?