My flat in Baglan is up for sale and I have a buyer. Will my lawyer need to be required to be on the Skipton conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My wife and I are buying a property in Baglan. It might be a silly question but how we can trust a solicitor? At some point we have to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Baglan solicitors on the Nationwide conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Nationwide approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I am due to exchange contracts on my house. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being pedantic. The Baglan solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Various online forums that I have frequented warn that are the number one cause of obstruction in Baglan house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Baglan.
How does conveyancing in Baglan differ for new build properties?
Most buyers of new build or newly converted property in Baglan contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Baglan usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Baglan or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Baglan is the location of the property. What do you suggest?
Flying freeholds in Baglan are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Baglan you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Baglan may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Two months into purchasing a property in Baglan. Conveyancing solicitor has called to say the title is "Leasehold". Should this make a difference on our Santander valuation?
Baglan conveyancing does not usually involve leasehold houses. The main consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to impact the value significantly.
At the other extreme, if it's, say, fifty five years it will have a material effect on the value, and most likely wouldn't be acceptable to the bank. The length of lease and ground rent will be stated in the lease to be supplied to your solicitor.