My wife and I are hoping to buy a flat in Llanarmon Yn Ial and are in fact using a Llanarmon Yn Ial conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this afternoon contacted us to advise us that they have now hit a problem as our Llanarmon Yn Ial conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Llanarmon Yn Ial lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We previously appointed conveyancing lawyers located in Llanarmon Yn Ial on the TSB solicitor panel. They have just billed me a supplemental amount for dealing with the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
As unfair as it may appear, as long as it’s in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. The charge is not dictated by TSB but by your Llanarmon Yn Ial property lawyer. Numerous firms on the TSB panel will levy ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
We have agreed to purchase a house in Llanarmon Yn Ial. One unusual aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Co-operative your lawyer must check the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Co-operative. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Co-operative where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties countrywide and is not limited to Llanarmon Yn Ial.
I have instructed a Llanarmon Yn Ial property lawyer having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Llanarmon Yn Ial postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Llanarmon Yn Ial.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Llanarmon Yn Ial?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Llanarmon Yn Ial. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Llanarmon Yn Ial differ for newly converted properties?
Most buyers of new build residence in Llanarmon Yn Ial contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Llanarmon Yn Ial typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Llanarmon Yn Ial or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Llanarmon Yn Ial I like with a park and railway links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Llanarmon Yn Ial for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
My company is hoping to take an assignment of a lease of an office on the high street. Can you recommend solicitors offering no-move-no fees for commercial conveyancing in Llanarmon Yn Ial for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Llanarmon Yn Ial, including the disposal and acquisition of businesses as well as simply property. If you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. Regarding the fees this will depend on the structure and heads of terms of the deal. Please provide us with your details or email us so that we can supply you with a detailed commercial conveyancing calculation.