Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Melton Mowbray Building Society conveyancing panel for instance in Machynlleth?
We are not aware of any intention on the part of the BSA to promote such a search facility.
I am purchasing a property in Machynlleth. A rare aspect is that the roof has a solar panel. RBS 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 RBS your lawyer must comply with the conveyancing instructions contained in Part 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and property lawyers are required to report to RBS where a lease fails to meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Machynlleth.
We were going to get a AIP from Virgin Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Machynlleth solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Machynlleth solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I am selling my flat. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Lloyds are being problematic. The Machynlleth solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am selling our house in Machynlleth and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Machynlleth lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a factory type conveyancing firm as opposed to a conveyancing solicitor in Machynlleth. Having lived in Machynlleth for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of 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 health insurance to cover that same ailment)
I'm buying my first flat in Machynlleth with the aid of help to buy. The developers would not budge the price so I negotiated 6k of extras instead. The property agent told me not reveal to my lawyer about this deal as it would put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Machynlleth is where the house is located. Is there any advice you can impart?
Flying freeholds in Machynlleth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Machynlleth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Machynlleth 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 premises.
My wife and I may need to let out our Machynlleth 1st floor flat for a while due to a new job. We instructed a Machynlleth conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Machynlleth do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Leasehold Conveyancing in Machynlleth - Sample of Queries Prior to Purchasing
-
It would be prudent to investigate if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Machynlleth. If you like the apartmentin Machynlleth however your dog can’t move with you then you have a very hard compromise. Plenty Machynlleth leasehold properties will have a service bill for maintenance of the building set on behalf of the landlord. If you buy the property you will have to pay this amount, usually periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent to be met yearly, this is usually not a large figure, say about £50-£100 but you need to check as on occasion it can be many hundreds of pounds. Is anyone aware of any major works in the planning that could add a premium to the maintenance costs?