We were just about to sign contracts for a freehold house in Wolverton. We have hit a snag. The mortgage offer with Virgin Money expires on 6/5/2025 but the vendors are putting forward a completion date of 8/5/2025. Can one extend the loan offer?
The best person to address this issue is your lawyer who will hopefully assess whether he or she is should be discussing with the lender, owner’s conveyancers, estate agents or conceivably all parties based on the history of your conveyancing as of today.
I purchased a freehold property in Wolverton but still charged rent, why is this and what is this?
It’s unusual for properties in Wolverton and has limited impact for conveyancing in Wolverton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
We are purchasing a house in Wolverton. It might be a silly question but how we can trust a lawyer? At some point we have to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Completion of my remortgage has taken place for my property in Wolverton. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I was told two weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Wolverton is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the advice of my in-laws I had a survey completed on a property in Wolverton before appointing conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies tend not grant a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wolverton. Conveyancing will be smoother if you use a solicitor in Wolverton especially if they are familiar with such properties in Wolverton.
Been searching for a solicitor for leasehold sale conveyancing in Wolverton. I'm selling, uncomplicated no mortgage to pay off, no rush, no onward purchase. Had an estimate from a conveyancing practitioner for nine hundred pounds excluding VAT which is a tad steep given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Wolverton?
Given that it’s a sale only, £450 + VAT would be about the best for a Wolverton solicitor firm.