We are about to exchange contracts for a garden flat in Hemsworth. We encountered a stumbling block. Our mortgage offer with The Mortgage Works runs out on 21/3/2025 but the sellers are insisting on a completion date of 25/3/2025. Can one prolong the mortgage offer?
The best person to deal with your question is your conveyancer who should determine whether they better off negotiating with the bank, owner’s solicitors, property agents or possibly all parties given the circumstances your conveyancing as of today.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Hemsworth. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
If you intend to refinance then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
My bid for a property was accepted at auction in Hemsworth. Conveyancing is necessary. What are my next steps?
Now that you are for in every practical sense signed on the dotted line you will need to find a conveyancing lawyer soon as you will have a fast approaching a fixed date to complete the conveyancing. Every auction property will ordinarily have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in place to complete on the on the contractual date .
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Hemsworth building society branch on various occasions and was told they are content with the situation and they would lend. My Hemsworth conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Our sealed bid on a detached house in Hemsworth has been accepted, but there is a chain. The sellers have offered on somewhere, however it’s not yet tied up, and have viewings of other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Hemsworth. What do I do now? When do I get the mortgage application with Nationwide going?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Hemsworth conveyancing search costs, etc). First, you must ensure that your property lawyer is on the Nationwide approved list. Concerning the next stages this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market many buyers would apply for a home loan with Nationwide and pay for the valuation and only if it was satisfactory would they pay their solicitor to proceed with the conveyancing in Hemsworth.
I used Stirling Law several years past for my conveyancing in Hemsworth. I now require my file but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hemsworth of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Hemsworth benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my conveyancer about the side-deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Hemsworth I like with open areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Hemsworth for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.