We are a couple about to sign contracts for a leasehold flat in Wavertree. We have hit a problem. The mortgage offer with Platform Home Loans Ltd runs out on 8/4/2019 but the sellers are insisting on a completion date of 10/4/2019. Can one extend the mortgage expiry date?
The person best placed to deal with your issue is your conveyancer who will calculate whether they should be discussing with the bank, seller’s conveyancers, estate agents or indeed all three based on the history of your transaction as of today.
We previously instructed conveyancers locally in Wavertree on the HSBC solicitor approved list. They have just billed me a supplemental charge for handling the HSBC mortgage. Is this a supplemental conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. The charge is not dictated by HSBC but by your Wavertree property lawyer. Plenty of firms on the HSBC panel will quote an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
We expect to receive a AIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Wavertree solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Wavertree solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Wavertree bank branch on a couple of occasions and was told it wasn't an issue and they will lend. My Wavertree conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your 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 remaining.
I am looking into buying my first house which is in Wavertree and I am already nervous. I couldn't find anything specific about Wavertree. Conveyancing will be needed in due course but do you know about the Wavertree area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wavertree. In the meantime here are some basic statistics that we found
In sourcing the world wide web for the words conveyancing in Wavertree it shows results of many property lawyersin the area. How do I determine which is the suitable conveyancer for my move?
The preferential method of seeking the right conveyancer is via trusted referral, so enquire of colleagues and family who have bought a property in Wavertree or the local estate agent or mortgage broker. Charges for conveyancing in Wavertree differ, so it's sensible to request at least three fee calculations from varying types of conveyancers. Be sure to secure confirmation what costs in the quote includes.
What can I expect to pay for conveyancing in Wavertree?
The total sum charged for Wavertree conveyancing costs are likely to be calculated at:
- a set sum; or
- an hourly rate (i.e. the time spent on the particular case).
In practice you seldom hear of Wavertree conveyancing companies charge on time basis