Property Drop Issue 16

16 ADVICE
Property Q&A
Wyn Williams, Partner & Head of Residential Property
at Harding Evans Solicitors in Newport
answers your property questions.
How long does a mortgage offer last?
Q AThe length of time a mortgage offer lasts varies
from lender to lender. The mortgage offer will
normally specifically state how long the offer is valid for.
Completion would need to take place prior to the date
the offer expires. In some circumstances and if required,
the mortgage adviser and the solicitor could approach
the lender for an extension however any extension of
time would be at the discretion of the lender.
QI am selling my first home and my estate agent
has offered to put me in touch with a solicitor, the
quotes are double what I’ve received from elsewhere!
ASome estate agents have agreements in place with
solicitors which are called referral agreements.
Referral fees are normally paid to the estate agent by
the solicitors in return for the instruction to act in
the sale or purchase. You are free to make your own
choice and instruct your own solicitor. You should
obtain quotations from solicitors and always check each
quote carefully as unfortunately some quotations will
not always be as clear as they should be. You may end
up paying more than the initial quote given and it is
important to ask at the outset if there are any additional
charges depending on the type of transaction.
QMy partner and I have separated and we are not
married. The property is in both our names and we
have a mortgage. We have both agreed that I will keep
the property and take on the mortgage. How can we
remove his name?
AYou need to approach your existing lender to
establish if they will agree to transfer the property
in to your sole name. They will consider your existing
financial position and if they are happy they will issue
consent and you can instruct a solicitor to prepare the
relevant paperwork to remove the other party if they agree.
Alternatively you could arrange a new mortgage
with a different lender and the transfer process could be
carried out at the same time. One thing to remember is
that if the transfer is not subject to any separation proceedings
under a divorce then stamp duty is still applicable.
Harding Evans has a wealth of experience in both
commercial and residential property and we are supported
by the latest case management systems and established
processes to ensure that your move proceeds smoothly.
If you have any questions regarding buying or selling
a property or you’re looking for a conveyancing quote –
please get in touch with one of our specialist solicitors
today on 01633 235140.
HardingEvans are a multi-disciplinary law firm
with an expert residential property team who
specialise in buying, selling and re-mortgages
with fixed-fee rates and no hidden costs.
QUOTE: PROPDROP
Please get in touch at: conveyancing@hevans.com,
01633 235140, 2 North Street, Newport, NP201TE
*While every effort has been made to ensure the accuracy of the
information provided above, it does not constitute legal advice and
cannot be relied upon as such. Please seek legal advice for your
individual case.
DO YOU HAVE A
PROPERTY RELATED
BUSINESS OR SERVICE?
2 Issues per month
FREE
37,000 monthly circulation
3 distribution methods: • Door to door in three towns
• Rural delivery • National and independent retailers
Why not advertise in the only property specific
publication in Monmouthshire, South Herefordshire
and West Gloucestershire
Next Deadline 15th December
01600 717255
www.thepropertydrop.co.uk • info@thepropertydrop.co.uk