I can't travel far from Blaina. Is there a reason why all Blaina lawyers aren't automatically on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This led to banks and building societies culling less reputable firms off their official list of approved lawyers .
My husband and I have arranged the release of further funds on our home loan from TSB as we want to carry out renovations to our home in Blaina. Do we need to choose a nearby Blaina solicitor on the TSB conveyancing panel to handle the paperwork?
TSB would not normally instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB panel.
I am buying a property in Blaina. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
As you are obtaining a mortgage with Santander your lawyer must follow the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Blaina.
After much negotiation I have agreed a price on a house in Blaina. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £150. A few days later, the lawyer contacted me to say that they were not on the HSBC 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 HSBC 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.
My wife and I are close to exchanging contracts on the sale of our property in Blaina and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers are using an internet conveyancing practice rather than a conveyancing solicitor in Blaina. We have lived in Blaina for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I'm purchasing a new build house in Blaina benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of additionals instead. The property agent told me not inform my lawyer about this side-deal as it may put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Blaina is the location of the property. Is there any guidance you can give?
Flying freeholds in Blaina are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Blaina you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blaina may ascertain 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 property.
I own a leasehold flat in Blaina. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Blaina who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Blaina conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a 1 bedroom flat in Blaina, conveyancing formalities finalised in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Blaina with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2103
You have 77 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.