I am acquiring an apartment in Markyate. My lawyer has never been on on the bank solicitor panel. Can I still use my Markyate conveyancing solicitor even though they are not on the mortgage company panel?
You must have a solicitor to deal with the legal work required when you take out a loan to purchase your home. They will conduct all the necessary investigations on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage documentation is in order. You can appoint a Markyate lawyer of your choosing. Nevertheless, where the lawyer appointed is not on the bank conveyancing panel supplemental fees will be incurred as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so if your solicitor has not previously sought membership they should do so.
We were just about to exchange contracts for a freehold house in Markyate. We encountered a stumbling block. Our loan offer with The Mortgage Works runs out on 19/6/2024 but the owners are insisting on a completion date of 21/6/2024. Can one prolong the mortgage expiry date?
The best person to address this concern is your conveyancer who is in a position to assess if they should be discussing with the mortgage broker, seller’s representatives, estate agents or indeed all parties based on the history of your conveyancing to date.
I acquired my flat on 14 March and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Markyate expressed confidence that it would be concluded inside ten days. Are properties in Markyate uniquely lengthy to register?
As far as conveyancing in Markyate registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether there are errors and whether the Land registry have to notify any other parties. As of today in the region of 80% of such applications are fully dealt with in less than three weeks but occasionally there can be extensive delays. Registration takes place after the buyer is living at the property so 'speed' is not always an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer should contact the land registry and explain the circumstances.
I decided to have a survey completed on a house in Markyate prior to retaining solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders will not give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Markyate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Markyate to see if the conveyancing costs will increase in light of this.
We are looking to purchase a repossessed flat in Markyate and the mortgagee in possession require completion inside 28 days. Can a lawyer complete in this timeframe? Would it be better to instruct a local Markyate firm or an online conveyancer that advertises to complete quickly?
Attend your Markyate high street. Pop in to 3 companies and request to talk to a conveyancing solicitor for a quote. Explain your requirements and try and obtain a commitment on time frames. Choose the one that comes across as most efficient. Make sure to choose a solicitor on the list of conveyancers acceptable to your lender.