I am purchasing an apartment in Caernarfon. My lawyer has never been on on the lender approved list. Am I still permitted to retain my Caernarfon conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
One must appoint a solicitor to complete the legal work required if you require a loan to buy your property. They will conduct all the appropriate investigations on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is dealt with. One may select a Caernarfon property lawyer of your choosing. However, if the lawyer selected is not on the lender solicitor panel further fees will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so if your solicitor has not previously sought membership they should take the chance to apply.
Are the Caernarfon conveyancing solicitors identified as being on the Clydesdale conveyancing panel, together with their details provided by Clydesdale?
Caernarfon conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Caernarfon bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Caernarfon conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the lawyer is on the bank panel, she or he must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Coventry BS are being a right pain. The Caernarfon solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
Santander have agreed my home loan in principle, my offer on a flat in Caernarfon has been accepted, now what?
Your estate agent will need to be advised as to your conveyancing practitioner's details (ensure that the property lawyers are on the lender’s panel). Contact Santander or the broker and finish off any appropriate forms. Santander will appoint a valuer who will get in contact with the estate agent or seller to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Santander will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Caernarfon.
I am buying a new build apartment in Caernarfon. Conveyancing is necessary evil 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.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Caernarfon
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Caernarfon is where the house is located. What do you suggest?
Flying freeholds in Caernarfon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Caernarfon you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caernarfon 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 residence.
My cousin has encouraged me to use his lawyers for conveyancing in Caernarfon. Do I follow his recommendation?
No doubt it’s preferable to select a conveyancing solicitor is to get referrals from friends or relatives who have actually used the firm that you are are thinking of instructing.