I am in a contract race with another prospective purchaser for a property in Aberystwyth. What can I do to quicken up the buying process?
In a situation where the seller is applying time constraints for your conveyancing it is advisable to make sure that your solicitor is familiar with the area as they will make use of local connections and insight. It is even conceivable that they could have transacted otherproperties in the same street. You would be best advised to use a Aberystwyth conveyancing solicitor. Second, make sure that the conveyancing firm is on the lender panel. It is understood that 18% of Aberystwyth conveyancing transactions are frustrated or jeopardised after finding out that a purchaser’s solicitor was not on their banks list of approved solicitors. This can often result in the conveyancing being frustrated by as much as three weeks. It is estimated that this issue affects in the region of 100,000 home moves every year. Most Aberystwyth conveyancing practices can not act for certain lenders so do check as early as possible.
We wanted to use a property lawyer in Aberystwyth for our house move. Our broker informed us that our mortgage company Skipton Building Society won't deal with them. Surely this is unfair competition?
A lender can direct that an approved solicitor act for it. Borrowers are liable to bear the cost of this. Try using our directory service to get a quote from a solicitor to carry conveyancing in Aberystwyth on the Skipton Building Society approved list of solicitors.
I am currently in the process of buying my council flat in Aberystwyth. I have a mortgage agreed with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I currently have a mortgage with Aldermore for my property in Aberystwyth. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval prior to renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
I recently had an offer agreed on a house in Aberystwyth. My financial adviser recommended their conveyancers. I paid an advanced payment of £175. A couple of days later, the lawyer called me embarrassingly acknowledging that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We're novice buyers - agreed a price, but the agent informed us that the seller will only go ahead if we instruct the agent's recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor used to conveyancing in Aberystwyth
It is highly unlikely the owners are driving this. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Try to communicate with the vendors directly and make sure they understand (a)you are serious buyers (b)you are ready to go, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to instruct your preferred Aberystwyth conveyancing solicitors - not the ones that will give the negotiator at the agency a introducer fee or hit his conveyancing figures demanded by HQ.
What are your top tips when it comes to appointing a Aberystwyth conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Aberystwyth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Aberystwyth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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What are the charges for lease extension conveyancing? Can they put you in touch with clients in Aberystwyth who can give a testimonial?
Aberystwyth Leasehold Conveyancing - Examples of Queries before Purchasing
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Does the lease include onerous restrictions? Is the freehold reversion owned jointly by the tenants? If a Aberystwyth lease has no more than 80 years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you will need to own the premises for a couple of years in order to be entitled to extend the lease.
Are there any compelling advantages to selecting a high street conveyancing practitioner in Aberystwyth
Many purchasers and sellers in Aberystwyth prefer a nearby high street conveyancing practitioner so that they can visit just in case they have questions, and to deliver mortgage deeds without using the Royal Mail.
There is a distinct edge in using a property lawyer local to the house you are purchasing, due to the knowledge of the locality and potential local concerns - however this is debatable. The majority of conveyancers are now online and could be based anywhere.