Can you explain why leasehold purchase conveyancing in Ponthir is more expensive?
The conveyancing charges for a leasehold premises in Ponthir is often higher as compared to a freehold residence. This is because there is an amount of extra time necessary in communicating with the freeholder and managing agents to collate the information about whether the rent and maintenance fee have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
I have paid off my mortgage with HSBC. I assume I don't need a Ponthir solicitor on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
It is unclear whether my bank requires a lease extension. I have called my Ponthir building society branch on numerous occasions and was told they are content with the situation and they will lend. My Ponthir conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your solicitor has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my house. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being a right pain. The Ponthir solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.
Just acquired a semi-detached house in Ponthir , how long will it take for the Land Registry to register my title? My Ponthir conveyancing solicitor has been very slow, so I want to be sure the land registry aspects are dealt with.
As far as conveyancing in Ponthir is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can differ subject to who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. At present roughly three quarters of such applications are completed within two weeks but occasionally there can be protracted delays. Registration occurs after the new owner is living at the property therefore 'speed' is not always top priority but where there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Ponthir differ for new build properties?
Most buyers of new build residence in Ponthir approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because house builders in Ponthir typically purchase the real estate, 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've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Ponthir is where the house is located. What do you suggest?
Flying freeholds in Ponthir are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ponthir you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ponthir may determine 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 property.
My partner is buying a studio flat in Ponthir. He was given a quote by the conveyancer recommended by the selling agents totaling £1245 . It was seven years ago I sold and purchased a home and the bill was £495. Have costs really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Ponthir searches, land registry fees, etc)