I plan on acquiring a leasehold flat in Cwmbran. My Conveyancer is not listed on the lender conveyancing list. Is it possible for me to continue with my Cwmbran conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
You have numerous choices open to you here
- Carry on with your existing Cwmbran lawyer but your mortgage company will need to instruct a lawyer on their approved panel. This will result in additional cost and potential frustration.
- Appoint a new conveyancer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Convince your property lawyer to seek to join the mortgage company panel
Do banks and building societies provide you with an approved list of Cwmbran conveyancing solicitors? How do you know who is on the Santander conveyancing panel?
Cwmbran conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
It has been 3 months following my purchase conveyancing in Cwmbran concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Cwmbran benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not disclose to my lawyer about this extras as it could impact my loan with the bank. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a property in Cwmbran prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cwmbran. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Cwmbran cover?
Cwmbran conveyancing for business premises covers a broad array of services, offered by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.