We are about to exchange contracts for a leasehold flat in Builth Wells. We have hit a problem. Our mortgage offer with Nationwide Building Society expires on 5/5/2026 but the owners are putting forward a completion date of 7/5/2026. Is it possible to prolong the loan expiry date?
The best person to deal with your question is your lawyer who is in a position to determine whether they corresponding with the mortgage broker, seller’s solicitors, selling agents or indeed all parties based on the circumstances your transaction as of today.
My Solicitor in Builth Wells is not listed on the Halifax Conveyancing Panel. Can I still retain my prefered solicitor notwithstanding that they are excluded from the Halifax panel?
Your options are as follows:
- Complete the purchase with your preferred Builth Wells solicitors but Halifax will need to use a conveyancer on their panel. This will result in additional total legal charges and cause frustration.
- Get a new lawyer to act in the purchase, remembering to check they are Persuade your conveyancer to do everything within their powers to join the Halifax conveyancing panel
I'm the sole recipient of my late father’s estate and I have everything in my name alone, including the my former home in Builth Wells. Conveyancing formalities meant that the Land Registry date was in February. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in February. Do I have to wait 6 months to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most mortgage companies would take a pragmatic view as this requirement is chiefly there to capture subsales or the quick reselling of properties.
I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Builth Wells is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Builth Wells solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Builth Wells surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying a house and the lawyer has raised the issue of Chancel Repair for which the property may be obligated to contribute to because it falls into the area of such a church. He has suggested insurance. Is this really warranted for conveyancing in Builth Wells
Unless a previous acquisition of the premises took place after 12 October 2013 you can expect solicitors carrying out conveyancing in Builth Wells to remain recommending a chancel search and or insurance against a claim.
I'm purchasing my first flat in Builth Wells with the aid of help to buy. The builders refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my lawyer about the side-deal as it would put at risk my loan with the bank. Is this normal?.
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 opted to have a survey completed on a property in Builth Wells prior to instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders will refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Builth Wells. Conveyancing may be slightly more expensive based on your lender's requirements.