Our Maesteg lawyer has identified a discrepancy between the information in the valuation report and what is in the legal papers for the property. My lawyer has advised that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
As someone with no idea as to the Maesteg conveyancing process what is your top tip you can impart for the ownership transfer in Maesteg
Not many law firms or advisers will tell you this but conveyancing in Maesteg and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is an abundance of room for conflict between you and others involved in the ownership transfer. E.g., the vendor, property agent and sometimes your lender. Appointing a solicitor for your conveyancing in Maesteg an important selection as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to protect your best interests and to keep you safe.
Every so often a potential adversary will try and persuade you that it is in your interests to do things their way. As an example, the estate agent may claim to be assisting by suggesting your conveyancer is wrong. Or your mortgage broker may tell you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My bid for a property was accepted at auction in Maesteg. Conveyancing is necessary. What happens now?
Having for in every practical sense signed on the dotted line you will need to instruct a conveyancing solicitor as a matter of urgency as you now have a fast approaching a drop dead date to complete the deal. All auction property should have an associated auction set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete on the on the contractual date .
I am buying a 4 bedroom semi-detached house in Maesteg. The intention is to carry out an extension to the side at the property.Will the conveyancing process include enquiries to ascertain if these works are prohibited?
Your conveyancer will review the deeds as conveyancing in Maesteg will occasionally identify restrictions in the title documents which prohibit categories of alterations or require the consent of another owner. Certain additions require local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
My solicitor has informed me that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Maesteg?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I am buying a new build flat in Maesteg. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Maesteg
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I opted to have a survey completed on a property in Maesteg before instructing solicitors. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not grant a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you call us we can check with 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 Maesteg. Conveyancing will be smoother if you use a solicitor in Maesteg especially if they are acquainted with such properties in Maesteg.
What is the distinction between surveying and conveyancing in Maesteg?
Conveyancing - in Maesteg or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the seller to remedy the problems prior to you complete your move.