My husband and I are hoping to acquire a property in Roath Park and are in fact using a Roath Park conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this evening contacted us to inform me that they have now hit a problem as our Roath Park conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Roath Park solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I am about to exchange buying a property in Roath Park but as a result of damage from some water damage at the property I have managed to agree reparation from the current proprietors of £3k by way of a deduction in the price. I had intended this to be addressed as part of a side agreement but Skipton are not allowing this. Should they have been informed?
Your conveyancing practitioner that is on the Skipton conveyancing panel is obliged to disclose to Skipton of any variations to the purchase price. If you prohibit your solicitor to report the reduction to Skipton then they would have to discontinue acting for you. In addition, Skipton and you would have to appoint a new solicitor for your conveyancing in Roath Park.
Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial property in Roath Park?
Many commercial conveyancing solicitors in Roath Park will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Roath Park. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Roath Park.
For every commercial conveyancing transaction in Roath Park it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Roath Park commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Roath Park.
I'm purchasing my first flat in Roath Park with the aid of help to buy. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not to tell my lawyer about this extras as it will impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Roath Park is where the house is located. Is there any guidance you can impart?
Flying freeholds in Roath Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Roath Park you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Roath Park 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.
As co-executor for the estate of my aunt I am selling a residence in Newport but live in Roath Park. My conveyancer (approximately 200 kilometers awayrequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Roath Park who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Roath Park