I have paid off my mortgage with Coventry BS. I assume I don't need a Gower property lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
The mortgage over my property is with Principality for my property in Gower. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel solicitor.
At last I have had an offer on a flat in Gower agreed to, the vendors do however have an associated purchase. The sellers have put an offer on a property, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Gower. What should be my next step? When do I get the mortgage application with Kent Reliance started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Gower conveyancing search charges, etc). The first thing to do is ensure that your solicitor is on the Kent Reliance conveyancing panel. Concerning the next phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. In a hot market some home buyers will apply for the mortgage with Kent Reliance and pay for the valuation and only if it was satisfactory would they ask their lawyer to proceed with the conveyancing in Gower.
I am downsizing from our house in Gower and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers used an online conveyancing practice rather than a conveyancing solicitor in Gower. We have lived in Gower for many years we know that this is a non issue. Should we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
About to purchase a new build flat in Gower. Conveyancing is a frightening process 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 few leasehold new build questions that you can expect your new-build leasehold conveyancing in Gower
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I decided to have a survey done on a house in Gower prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Gower. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gower to see if the conveyancing costs will increase in light of this.
I’m about to sell my basement flat in Gower. Conveyancing solicitors are to be appointed soon, but I have recently had a yearly service charge invoice – Do I pay up?
The sensible thing to do is pay the service charge as normal as all rents and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Gower Leasehold Conveyancing - A selection of Queries before buying
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What is the name of the managing agents? How many years remain on the lease? Its a good idea to find out as much as possible about the company managing the block as they will either make life much easier or problematic. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the cleanliness of the communal areas. Ask other tenants what they think of their management. Finally, find out the dates that you are obliged pay the service charge to the relevant party and specifically what it includes.
My sister completed her conveyancing in Gower Six years ago. She has since got married, divorced and has recently married again. She wishes to market the house next spring. I suspect that she will just be requested to supply copies of her marriage papers to the conveyancing practitioner however she is anxious it will delay the conveyancing. Is it worth updating the title details for the house?
You are not required to bring up to date the title for the property providing you have the evidence needed to demonstrate how the change of name has come about.
Any purchaser’s lawyer should review the title entries and require evidence to prove the change of name e.g. marriage documentation.