My wife and I are nearing an exchange on a property in Garndolbenmaen and my parents have transferred the 10% deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your lawyer is duty bound to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My stepmother pointed out to me me that in purchasing a property in Garndolbenmaen there may be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Garndolbenmaen which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Garndolbenmaen should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am purchasing a 4 bedroom semi-detached house in Garndolbenmaen. We would like to carry out an extension to the side at the property.Will the conveyancing process include checks to ascertain if these works are allowed?
Your solicitor should review the deeds as conveyancing in Garndolbenmaen can occasionally reveal restrictions in the title deeds which restrict certain works or need the permission of another owner. Some works need local authority planning permissions and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
I can not work out if my lender requires a lease extension. I have telephoned my Garndolbenmaen bank branch on various occasions and was told they are content with the situation and they would lend. My Garndolbenmaen 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. I simply don't know who is right.
Your lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A friend advised me that if I am purchasing in Garndolbenmaen I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Garndolbenmaen conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Garndolbenmaen around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Garndolbenmaen Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Garndolbenmaen Education with plans and statistics, Local Amenities and other useful information about Garndolbenmaen.
I am purchasing a new build house in Garndolbenmaen with a mortgage from TSB. The sellers would not move on the amount so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my lawyer about this deal as it would adversely affect my mortgage with TSB. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Garndolbenmaen is where the house is located. Can you offer any opinion?
Flying freeholds in Garndolbenmaen are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Garndolbenmaen you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Garndolbenmaen 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 property.
I am 3 weeks into a leasehold purchase having been directed to conveyancers by the selling agent to perform conveyancing in Garndolbenmaen. We are not happy. Can you help me find new solicitors?
A solicitor would have to be really bad in order to consider changing them. Has the mortgage been issued? If so you need to inform them of the new contact details and ensure the offer are re-sent. The conveyancer needs to be on the lenders approved list to avoid added expenses and complications. So that should be your starting point. The search tool can help you find a lender approved conveyancer for your conveyancing in Garndolbenmaen