I have just been advised by my lender that my Cwmcarn property lawyer is not on the bank Conveyancing panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your Cwmcarn lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may be able to suggest a Cwmcarn conveyancing practice that is on the conveyancing panel for your lender.
My grandmother passed away last year and as sole heir and executor I was left the property in Cwmcarn. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
Will our lawyer be making enquiries regarding flooding as part of the conveyancing in Cwmcarn.
Flooding is a growing risk for solicitors dealing with homes in Cwmcarn. There are those who purchase a house in Cwmcarn, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a various searches that can be carried out by the purchaser or by their conveyancers which can figure out the risks in Cwmcarn. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to determine if the property has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a compensation claim as a result of such an misleading answer. The purchaser’s lawyers will also conduct an enviro report. This will reveal whether there is a recorded flood risk. If so, additional investigations will need to be initiated.
It has been three months following my purchase conveyancing in Cwmcarn took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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 am buying a new build apartment in Cwmcarn. Conveyancing is daunting 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 questions that you may expect your new-build leasehold conveyancing in Cwmcarn
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Developers have recommended to me a conveyancing practitioner and I've received a quote from them. It's almost two hundred pounds cheaper than my local Cwmcarn property lawyer. What's the catch?
Developers frequently have lists of property lawyers who expedite matters and who know the seller’s paperwork and lawyer. Plenty of developers offer an incentive to choose their approved conveyancing practitioner for this reason, any increased charges can be avoided and a developer will not suggest a conveyancing warehouse and run the risk of having the conveyancing stall when they demand an exchange inside a month. A counter-argument for not opting for the suggested conveyancer is that they may be unwilling to fight for your interests at the risk of alienating the housebuilder. Where you have concerns that this may be the case you should stick with your high street Cwmcarn solicitor.