The housing market in Wellington is hotting up. What can I do to quicken up the legal process?
In a situation where you are under time constraints to exchange it is highly recommended that your solicitor is familiar with the area as they will make use of local relationships and know-how. It is even conceivable that they may have transacted otherhomes in the same neighbourhood. Therefore consider using a Wellington conveyancing lawyer. In addition, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is said that just under twenty per cent of Wellington conveyancing transactions are suspended or derailed after finding out that a purchaser’s lawyer was not on their mortgage lender’s member panel. This can often result in the transaction being delayed by almost 21 days. It is believed that this issue impacts in the region of 100,000 home moves annually. Many Wellington conveyancing practices can not represent certain banks so do check at the outset.
I just bought a flat at auction in Wellington. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you will need to appoint a conveyancing lawyer soon as you now have a fast approaching a fixed date to complete the deal. An auction property will have an associated legal pack. This will likely include most,if not all of the documents that your solicitor will need. In the case of leasehold property the auction pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You should give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that you have funds organised to complete the transaction on the set completion date.
My wife and I buying a victorian detached house in Wellington. The intention is to carry out a loft conversion at the property.Will legal due diligence on the property include enquiries to see if these works are prohibited?
Your conveyancer should check the registered title as conveyancing in Wellington can on occasion reveal restrictions in the title documents which restrict categories of works or require the permission of another owner. Some extensions call for local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, UBS are being difficult. The Wellington solicitor who is on the UBS conveyancing panel is saying indemnity insurance will be fine but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I own a terraced Victorian house in Wellington. Conveyancing practitioner acted for me and Halifax. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wellington and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Wellington differ for new build properties?
Most buyers of new build or newly converted property in Wellington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Wellington tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wellington or who has acted in the same development.
How do I use the search app to select a conveyancing solicitor in Wellington on the approved list for my mortgage?
1st select a lender such as Halifax, Bank of Scotland or Britannia then type in your location for example Wellington. Conveyancing organisations in Wellington and further afield will then be listed.
My husband and I are first time buyers - had an offer accepted, yet the agent has warned us that the owners will only issue a contract if we appoint their chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor who is accustomed to conveyancing in Wellington
It is improbable the sellers are driving this. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Wellington conveyancing lawyers - as opposed tothose that will give the estate agent a introducer fee or achieve conveyancing thresholds demanded by HQ.