I am progressing with the sale of my ground floor flat in Neath Port Talbot and the EA has just text me to warn that the purchasers are appointing a new property lawyer. The reason given is that the bank will only engage with property lawyers on their approved list. On what basis would a major mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Neath Port Talbot ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
It is is a decade since I bought my house in Neath Port Talbot. Conveyancing lawyers have recently been instructed on the sale but I can't find my title deeds. Is this a major issue?
Don’t worry too much. First there is a chance that the deeds will be retained by your lender or they could stored with the conveyancers who handled your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Neath Port Talbot involves registered property but in the rare situation where your home is unregistered it is more tricky but is not insurmountable.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Neath Port Talbot?
There are many recorded licenced Conveyancers in Neath Port Talbot and Solicitor partnerships in Neath Port Talbot to choose from It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am buying a 3 bedroom semi in Neath Port Talbot. We would like to carry out an extension to the side at the property.Will the conveyancing process involve enquiries to ascertain if these works are prohibited?
Your property lawyer will review the deeds as conveyancing in Neath Port Talbot will on occasion identify restrictions in the title deeds which prevent certain works or need the permission of another owner. Many works need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor prior to committing yourself to a purchase.
When it comes to lenders such as Clydesdale, do Neath Port Talbot property lawyers incur a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have a semi-detached Victorian property in Neath Port Talbot. Conveyancing lawyer acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Neath Port Talbot and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the work.
I'm buying a new build house in Neath Port Talbot with a loan from HSBC Bank. The sellers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not disclose to my lawyer about this extras as it could adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
There are only Seventy years remaining on my lease in Neath Port Talbot. I am keen to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the freeholder. On the whole a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Neath Port Talbot.
Leasehold Conveyancing in Neath Port Talbot - Sample of Queries before Purchasing
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Its a good idea to find out as much as possible concerning the managing agents as they can either make your life much simpler or problematic. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. Finally, investigate as to the dates that the maintenance fees are due to the relevant party and specifically how they are spending that money. How much is the ground rent and service charge? How many years are left on the lease?