My partner and I are approaching an exchange on a house in Pontypridd and my parents have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The solicitor is legally required to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My wife and I are purchasing a apartment in Pontypridd. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Pontypridd building society branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Pontypridd conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must comply with the CML Handbook section two specifications for your lender. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I was told four weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Pontypridd is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
four months have elapsed since my purchase conveyancing in Pontypridd took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 asset 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 Pontypridd. Conveyancing is necessary evil 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 are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Pontypridd
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Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
How does the Landlord & Tenant Act 1954 impact my commercial property in Pontypridd and how can your lawyers assist?
The 1954 Act provides protection to business lessees, giving them the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Pontypridd
We are in the process of acquiring a flat in Pontypridd. Conveyancing is not yet done but we wish to have our purchase price confidential from the likes of Nestoria. what can I do to ensure this is not revealed?
The Land Registry are legally obliged to specify price sold information on a register of the title for domestic properties countrywide including properties in Pontypridd. The register of ownership is a public document, so the Land Registry would be breaching their statutory duty if they did not permit access to the register.
You can make a request of HMLR to hide the amount paid entry but the response would be a No.