We are a couple about to sign contracts for a ground floor flat in Blaina. We have hit a problem. The loan offer with Halifax expires on 18/3/2025 but the sellers are suggesting a completion date of 20/3/2025. Can one prolong the mortgage expiry date?
The person best placed to deal with your concern is your lawyer who will determine whether they should be discussing with the mortgage company, owner’s representatives, property agents or possibly all parties taking into account the circumstances your conveyancing as of today.
We note that you have a post code search directory listing solicitors on the Nationwide conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Blaina?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Blaina.
I just acquired a house at auction in Blaina. Conveyancing is required. What happens now?
Now that you have to in every practical sense signed on the dotted line you will need to choose a conveyancing lawyer soon as you now have a pending deadline in which to complete the purchase. An auction property should have an associated legal pack. This will include most,if not all of the paperwork that your solicitor requires. If you have purchased leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You should give this to the lawyer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
is it true that all Blaina solicitor practices on the Principality conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Principality approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
I am selling my apartment. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being difficult. The Blaina solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
I'm buying a new build house in Blaina with a loan from Bank of Scotland. The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my solicitor about this extras as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
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 decided to have a survey completed on a house in Blaina in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend not grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Blaina. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Blaina to see if the conveyancing will be more expensive.
Do you have any advice for leasehold conveyancing in Blaina with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Blaina can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers’ representatives. The majority of landlords or Management Companies in Blaina levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Blaina. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Blaina leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such changes. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your lawyer in advance. You believe that you know the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I purchased a studio flat in Blaina, conveyancing having been completed in 2009. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Blaina with a long lease are worth £176,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2105
With only 80 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.