I am acquiring property in Caerphilly. My Solicitor is not listed on the bank conveyancing panel. Is it possible for me to use my Caerphilly conveyancing solicitor even though they are not on the bank approved list?
One will need to have a conveyancer to deal with the formalities if you need a loan to buy your home. They will carry out all the relevant investigations on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. You can instruct a Caerphilly solicitor of your choice. Nevertheless, if the conveyancing practitioner appointed is not a member of the bank approved list additional fees will be levied as separate legal representation will be required by them. Bank panel applications can be submitted, so provided your conveyancer has not in the past applied for membership they should take the chance to apply.
I require conveyancing for an apartment in a relatively new development (6 years old) in Caerphilly. The vast majority the appartments are already occupied. Do I need carry out the neighbourhood searches as part of conveyancing in Caerphilly?
You are putting yourself at risk in failing carrying out Caerphilly conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. If time pressures and expenses are primary issues you should discuss with your solicitor about the possibility of search insurance
Can you explain why leasehold purchase conveyancing in Caerphilly is more expensive?
In summary, leasehold conveyancing in Caerphilly and elsewhere usually necessitates extra due diligence compared to freehold transactions. This includes reviewing the lease, liaising with the landlord concerning the service of applicable notices, securing current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first entered into.
Should my solicitor be raising questions about flooding as part of the conveyancing in Caerphilly.
Flooding is a growing risk for solicitors conducting conveyancing in Caerphilly. There are those who purchase a house in Caerphilly, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that may be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Caerphilly. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to find out whether the property has suffered from flooding. In the event that the residence has been flooded in past which is not disclosed by the vendor, then a purchaser may issue a claim for damages stemming from an incorrect reply. A buyer’s solicitors will also carry out an environmental search. This will disclose whether there is any known flood risk. If so, more detailed investigations should be carried out.
I opted to have a survey carried out on a house in Caerphilly ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend not grant a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Caerphilly. Conveyancing will be smoother if you use a solicitor in Caerphilly especially if they are familiar with such properties in Caerphilly.
My step-father has suggested that I instruct his conveyancers in Caerphilly. Should I use them?
There are no two ways about it the ideal way to find a conveyancing solicitor is to have referrals from friends or relatives who have experience in using the solicitor you're contemplating using.