We were just about to exchange contracts for a semi detached house in Wellington. We have hit a stumbling block. Our mortgage offer with Barclays runs out on 13/9/2024 but the vendors are insisting on a completion date of 17/9/2024. Can one prolong the mortgage expiry date?
The person best placed to deal with your concern is your lawyer who will calculate if he or she is should be discussing with the lender, vendor’s conveyancers, estate agents or indeed all parties given what has gone on in your conveyancing to date.
What is the first thing I need to know concerning purchase conveyancing in Wellington?
You may not hear this from too many lawyers but conveyancing in Wellington and elsewhere in Somerset is often a confrontational process. In other words, when it comes to conveyancing there exists lots of room for friction between you and others involved in the home moving process. E.g., the vendor, selling agent and even potentially the mortgage company. Appointing a law firm for your conveyancing in Wellington is a critical decision as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to act in your legal interests and to protect you.
Sometimes a third party with a vested interest will try and persuade you that it is in your interests to do things their way. For example, the selling agent may claim to be helping by suggesting your conveyancer is wrong. Or your mortgage broker may tell you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties in the home moving process.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Wellington so that I can attend their offices if required.
These days conveyancing panel lawyers for mortgage companies carry out their work via Royal Mail, internet or over phone calls. This enables them to conduct the legal work for your home move regardless of where you live in the country. However you should check if you can still book an appointment to visit conveyancing lawyer if needed.
I bought my house on 12 May and my personal details are still not registered. Need I be worried? My conveyancing solicitor in Wellington advises it would be formalised in less than a month. Are titles in Wellington uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Wellington registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry have to notify any other persons or bodies. At present in the region of 80% of submission are fully dealt with in less than three weeks but some can be subject to longer hold-ups. Registration takes place once the new owner is living at the premises therefore an expedited registration is not usually top priority yet where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
I decided to have a survey carried out on a house in Wellington before appointing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks tend not issue a loan on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wellington. Conveyancing will be smoother if you use a solicitor in Wellington especially if they are accustomed to such properties in Wellington.
Should I go with a Wellington conveyancing solicitor based in the vicinity that I am purchasing? An old friend can execute the conveyancing but his firm is located 200miles drive away.
The benefit of a high street Wellington conveyancing practice is that you can visit the firm to execute documents, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were impressed that must trump using an unfamiliar Wellington conveyancing lawyer just because they are based in the area.