We are a couple about to sign contracts for a freehold house in Wembley. We have hit a stumbling block. The mortgage offer with Nationwide Building Society runs out on 18/4/2024 but the owners are putting forward a completion date of 22/4/2024. Can one prolong the mortgage offer?
The best person to address this issue is your conveyancer who is in a position to determine if he or she is corresponding with the mortgage broker, vendor’s representatives, property agents or conceivably all parties taking into account the circumstances your transaction as of today.
Forgive me if this question is silly but I am unseasoned as a first time purchaser of a garden flat in Wembley. Do I pick up the keys to the premises on the completion date from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Wembley?
On the day of completion you do not need to attend the conveyancers office in Wembley. Your solicitors will arrange to send the purchase money to the seller's solicitors, and once they have received this, you should be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
When it comes to lenders such as Leeds Building Society, do Wembley conveyancers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in Wembley off the council. I have a mortgage offer with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
It has been 2 months since my purchase conveyancing in Wembley took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the advice of my in-laws I had a survey completed on a house in Wembley before appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some banks will not give a loan on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wembley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wembley to see if the conveyancing will be more expensive.
I'm converting the mortgage on my current property to a BTL mortgage with Nottingham Building Society and I will use the rest of the raised equity as a deposit on a second property. The area we are talking about is Wembley. Will your solicitors be able to act for both sets of lenders and tie in the two deals?
Do use our comparison tool on this site to check that the conveyancers are on the relevant lender panels. Having checked that they are your conveyancer should be able to tie up the two conveyancing matters but you should talk with you lawyer and specify your expectations and requirements.
Myself and my fiance have recently had an offer accepted on a house and had an appointment on Friday with Nationwide for the mortgage. They have informed me that when it comes to choosing a lawyer that unless they are on their approved panel of property lawyers then we will incur an extra charge of £250+. This is because they would then have to instruct a solicitor to act on their behalf as well as the one we choose to act for ourselves and we will be on the hook for their invoice. I have requested Nationwide to furnish me with a list so I can seek estimates only from their approved lawyers but was told they dont have such a list to hand over. Is there a list online?
Ask Nationwide what their criteria for panel membership is for a solicitor.Thereafter ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on loans for Nationwide before. If the answer to those is yes, then just double check with Nationwide. Alternatively please use our search facility and we may be able to find you a lawyer in Wembley on the approved list for Nationwide.