Our solicitor has identified a a problem with the lease for the flat we are buying in Llantrisant. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I just bought a property at auction in Llantrisant. Conveyancing is necessary. What are my next steps?
Having exchanged you will need to find a conveyancing lawyer soon as you will have a fast approaching deadline in which to complete the conveyancing. An auction property will have an associated auction set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the legal pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You should pass this on to your appointed conveyancing solicitor ASAP. Do make sure that you have funds in place to complete the transaction on the set completion date.
I'm the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Llantrisant. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be treated the same way as though I had purchased the property in July. Do I have to wait half a year to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many lenders would take a sensible view as this provision is primarily there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
I have a mortgage with UBS for my property in Llantrisant. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
UBS must be informed of your intention before letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let 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 UBS directly. It should not be necessary to do this via a UBS conveyancing panel lawyer.
I used Arc property Solicitors several years ago for my conveyancing in Llantrisant. Now, I need my files but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llantrisant of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I decided to have a survey completed on a property in Llantrisant in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies may not issue a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Llantrisant. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the phrase conveyancing in Llantrisant it reveals numerous property lawyerslocally. How do I determine which is the right property lawyer for my move?
The ideal way of finding a suitable conveyancer is via personal testimonial, so ask friends and relatives who have bought a property in Llantrisant or the local estate agent or financial adviser. Fees for conveyancing in Llantrisant differ, so it's advisable to request a minimum of four fee estimates from varying types of law firms. Dont forget to clarify that the costs are guaranteed not to rise.
My brother mentioned that before selecting a conveyancing solicitors they need approved by your lender. I am first time buyer with but I have an AIP from Santander and I already have a family conveyancing lawyer in Llantrisant on standby. Will Virgin Money need an approved lawyer to be instructed? Does a directory of panel firms even exist so I can pick a conveyancing solicitor in Llantrisant?
You need to instruct a solicitor that is on the Virgin Money panel. Just call your preferred Llantrisant conveyancing lawyer and ask if they are on the Virgin Money panel. If they are not approved you have a number of options open to you here:
- Proceed with your preferred Llantrisant property lawyer but Virgin Money will undoubtedly retain a lawyer from their conveyancing panel. This will result in additional fees and probable frustration.
- Appoint a fresh property lawyer to conduct the conveyancing, obviously checking they are on the Virgin Money conveyancing panel.
- Convince your solicitor to do everything possible to get accepted on the Virgin Money panel of solicitors.