My wife and I are buying a 1 bedroom apartment in Tongwynlais with a mortgage. We like our Tongwynlais lawyer, but the bank says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Tongwynlais conveyancing practitioner as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Tongwynlais conveyancing solicitor to apply to be on the conveyancing panel.
Have completed on a a detached house in Tongwynlais , What is the estimated time for the Land Registry to register my title? My Tongwynlais conveyancing solicitor has been very slow, so I want to check that my purchase is recorded.
As far as conveyancing in Tongwynlais is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry need to notify any third parties. Currently roughly 80% of submission are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs after the new owner is living at the premises thus post completion formalities is not usually top priority yet if it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Tongwynlais differ for new build properties?
Most buyers of new build or newly converted property in Tongwynlais contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Tongwynlais usually acquire 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 conveyancers 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 Tongwynlais or who has acted in the same development.
I opted to have a survey done on a house in Tongwynlais ahead of appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tongwynlais. Conveyancing may be slightly more expensive based on your lender's requirements.
We're FTB’s - had an offer accepted, yet the estate agent told us that the owners will only go ahead if we appoint the agent's chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Tongwynlais
It is unlikely the sellers are behind this. If they want ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Contact the sellers directly and make the point that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)however you are going to instruct your own,trusted Tongwynlais conveyancing solicitors - as opposed tothe ones that will provide the negotiator at the agency a commission or achieve conveyancing figures set by HQ.
What advice can you give us when it comes to appointing a Tongwynlais conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Tongwynlais conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Tongwynlais conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
-
What volume of lease extensions has the firm conducted in Tongwynlais in the last 12 months? How familiar is the firm with lease extension legislation?
Tongwynlais Leasehold Conveyancing - Examples of Queries Prior to buying
-
The best form of lease arrangement is a share of the freehold. In this situation the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease have onerous restrictions? Plenty Tongwynlais leasehold properties will incur a service charge for the upkeep of the building levied on behalf of the management company. Where you purchase the property you will have to pay this charge, normally quarterly accross the year. This could be anything from several hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent to be met annual, normally this is not a large sum, say approximately £50-£100 but you should to enquire as on occasion it can be many hundreds of pounds.