I am purchasing a maisonette in Tenby. My property lawyer is not listed on the mortgage company approved list. Can I still use my Tenby conveyancing solicitor even though they are excluded from the lender approved list?
One will need to have a conveyancing practitioner to complete the formalities when you need a loan to purchase your property. They will conduct all the appropriate legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You may appoint a Tenby lawyer of your choice. However, if the solicitor selected is not a member of the bank approved list supplemental charges will be incurred as separate legal representation will be required by them. Lender panel applications may be submitted, so if your lawyer has not previously sought membership they should take the opportunity to apply.
IfI were to acquire a simple residential housein Tenby mortgage fee and dispense with a survey and no local authority searches how much could I expect to have to pay for conveyancing in Tenby?
Any savings you would achieve will be isolated to the Tenby conveyancing searches. A conveyancing practitioner still got to do everything else - money laundering, liaising with the vendors conveyancing practitioner, stamp duty submission, register the title etc. You might save a bit for them not having to register a charge but it will not be significant.
Finally the sale completed on my house in Tenby last July but my buyer keeps calling every few hours to say her conveyancer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your solicitor should forward the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor should also evidence that the legal charge in favour of the lender has been paid off to the buyers lawyers. There is unlikely to be post completion requirements unique to conveyancing in Tenby.
five months have gone by following my purchase conveyancing in Tenby concluded. I have checked the Land Registry website which shows that I paid £175,000 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 residence 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.
How does conveyancing in Tenby differ for new build properties?
Most buyers of new build residence in Tenby approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Tenby usually buy the land, 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 property lawyers 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 accustomed to new build conveyancing in Tenby or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Tenby in advance of appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may not give a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tenby. Conveyancing may be slightly more expensive based on your lender's requirements.