Due to move into my new home in Pontyclun next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not limited to conveyancing in Pontyclun.
My brother-in-law has suggested I instruct a conveyancing solicitor in Pontyclun. I I would like to check whether they are accepted on the Barnsley Building Society approved list of lawyers. Can you assist?
The first thing you should do is phone the solicitor and enquire if they are on the lender panel. Otherwise please call Barnsley Building Society who may be able to confirm.
Are all Pontyclun Conveyancing Quality Solicitors on the Clydesdale conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
I am purchasing a property in Pontyclun. One unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Barclays your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Barclays. The CML Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not limited to Pontyclun.
I'm spending time viewing flats in Pontyclun and I am about to put in an offer. Is it advisable to have a lawyer on ‘stand by’? I will be getting a home loan with Virgin Money.
It would be advisable to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are seeking a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
Will our lawyer be making enquiries about flooding during the conveyancing in Pontyclun.
The risk of flooding is if increasing concern for lawyers dealing with homes in Pontyclun. There are those who buy a house in Pontyclun, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Pontyclun. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to determine whether the property has ever been flooded. In the event that the residence has been flooded in past and is not notified by the owner, then a buyer could bring a claim for damages stemming from an inaccurate reply. A purchaser’s conveyancers should also order an enviro search. This will reveal whether there is any known flood risk. If so, further inquiries will need to be carried out.
I'm refinancing my existing home to a BTL loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on another property. The location we are looking at is Pontyclun. Will your lawyers be able to act for the two lenders and link together the transactions?
Make use of our comparison tool on this site to be sure that the solicitors are approved by both lenders. On the basis that they are your solicitor should be able to connect the two transactions but you should talk with you lawyer and communicate your expectations and requirements.
I am on look out for some leasehold conveyancing in Pontyclun. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Pontyclun - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 1st floor flat in Pontyclun, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Pontyclun with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2082
With only 56 years left to run the likely cost is going to be between £29,500 and £34,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.