We wanted to use a conveyancing solicitor in Ponthir for our home move. Our financial adviser informed us that our bank The Mortgage Works won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies normally imposes restrictions either the type or the number of conveyancing solicitors on their member panel. Typical examples of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the amount of firms they allow to act for them. Be aware that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there remains differing opinions concerning the extent of solicitor involvement in some of that fraud. Data from the Land Registry indicate that hundreds of law firms, including some in or near Ponthir only perform one or two conveyances a year.
How does conveyancing in Ponthir differ for new build properties?
Most buyers of new build property in Ponthir come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Ponthir tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ponthir or who has acted in the same development.
I decided to have a survey carried out on a property in Ponthir ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may not issue a loan on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ponthir. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ponthir to see if the conveyancing costs will increase in light of this.
I'm converting the mortgage on my primary home to a BTL loan with Platform Home Loans Ltd and intend to use the remaining equity towards a second property. The area we are looking at is Ponthir. Will your lawyers be able to act for the two lenders and tie in the transactions?
Do use our comparison tool on this page to check that the solicitors are approved by both banks. Having checked that they are the solicitor will be able to connect the two transactions but you should talk with you lawyer and make apparent your desired outcome and requirements.
I have recently realised that I have Seventy years left on my lease in Ponthir. I need to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to find the lessor. For most situations a specialist would be useful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Ponthir.
Leasehold Conveyancing in Ponthir - Sample of Queries Prior to buying
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Is the freehold owned jointly by the leaseholders? How many of the leaseholders are in arrears for their maintenance charge payments?
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.