I was told recently by my financial adviser that my Penllergaer the law firm I have appointed is not on the lender Conveyancing panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your Penllergaer lawyer directly. You lawyer should notify you of the situation. Where they are not on the panel they may be able to suggest a Penllergaer conveyancing practice that is on the approved list of lawyers for your mortgage company.
The Penllergaer conveyancing firm handling our Penllergaer conveyancing has discovered a difference between the information in the valuation survey and what is revealed within the title deeds. My lawyer says that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications 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 both parties.
It has been four months following my purchase conveyancing in Penllergaer completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Penllergaer. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Penllergaer
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan.
Due to the input of my in-laws I had a survey completed on a house in Penllergaer prior to appointing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend not grant a mortgage on such a premises.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Penllergaer. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - had an offer accepted, but the agent has warned us that the owners will only issue a contract if we use the agent's recommended solicitors as they need a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Penllergaer
It is highly unlikely the vendors are driving this. Should the vendor desire ‘a quick sale', alienating a genuine purchaser is counter productive. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to use your preferred Penllergaer conveyancing firm - as opposed tothose that will earn their estate agent a commission or hit his conveyancing thresholds set by HQ.