I have just been advised by my lender that my Woodstock property lawyer is not on the lender Solicitor panel. How can I be sure whether this is correct?
Your first step should be to contact your Woodstock lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they may recommend you to a Woodstock conveyancing practice that is on the conveyancing panel for your bank.
We were just about to sign contracts for a leasehold flat in Woodstock. We have hit a snag. The loan offer with Aldermore expires on 7/2/2025 but the sellers are suggesting a completion date of 11/2/2025. Is it possible to extend the mortgage expiry date?
The person best placed to address this concern is your solicitors who should determine whether they corresponding with the mortgage company, owner’s lawyers, selling agents or possibly all three given the circumstances your transaction to date.
It is a dozen years since I bought my home in Woodstock. Conveyancing lawyers have recently been appointed on the sale but I am unable to track down the deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by your mortgage company or they could be archived with the conveyancers who handled the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Woodstock involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
Is it the case that all Woodstock solicitors on the HSBC conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be governed by the SRA. Many lenders do list licenced conveyancers on their panel in which case such practice would be governed by the CLC.
I can not fathom if my mortgage offer requires a lease extension. I have called my Woodstock building society branch on numerous occasions and was told they are content with the situation and they would lend. My Woodstock conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
As long as the conveyancer is on the lender approved list, they must follow the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Santander have agreed my home loan in principle, my offer on a house in Woodstock has been accepted, now what?
The estate agent will wish to be advised as to your conveyancing practitioner's details (be sure the property lawyers are on the lender’s approved list). Telephone Santander or the financial adviser and finalise any relevant documentation. Santander will sellect a valuer who will get in touch with the estate agent or vendor to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Santander will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Woodstock.
I got the keys to my flat on 3 November and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Woodstock advises it will be formalised in a couple of weeks. Are transfers in Woodstock uniquely lengthy to register?
As far as conveyancing in Woodstock is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can differ subject to who lodges the application, whether there are errors and whether the Land registry need to notify any 3rd persons or bodies. As of today roughly three quarters of such applications are fully dealt with in less than three weeks but some can be subject to extensive delays. Historically registration takes place after the new owner is living at the premises therefore post completion formalities is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.