My mortgage broker requires my Builth Wells law firm’s panel reference for the Nationwide conveyancing panel. How do I find this out. I have tried my local Builth Wells office but they cant find it on their system.
You are best placed to get this information from your Builth Wells property lawyer . Most Builth Wells law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
The vendors of the home we are purchasing are using a conveyancing practitioner in Builth Wells who has recommended a exclusivity contract with a non-refundable deposit 6,000. Are such contracts generally advanced for Builth Wells conveyancing transactions?
Lock out agreements are agreements between a home vendor and prospective acquirer granting the buyer exclusive rights to purchase the property for a limited period of time. Essentially, a lock out is a document specifying that you should have a contract at a later date being the contract for the actual sale. It is generally used for buyer confidence though in many situations, the vendor may enjoy an upside from such agreements as well. There are many pros and cons to having them but you need to check with your lawyer but beware that it may end up costing you extra in conveyancing charges. In light of this these contracts are avoided in relation to conveyancing in Builth Wells.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Builth Wells. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 23/1/2025, the requirements read as follows :
I am buying a new build apartment in Builth Wells. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Builth Wells
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Builth Wells is where the house is located. Can you shed any light on this issue?
Flying freeholds in Builth Wells are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Builth Wells you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Builth Wells may decide 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.
I have recently realised that I have Seventy years left on my flat in Builth Wells. I need to get lease extension but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have used your best endeavours to track down the landlord. In some cases a specialist should be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Builth Wells.
I invested in buying a garden flat in Builth Wells, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Builth Wells with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.