Me and my wife are buying a maisonette in Tonteg. My property lawyer is not on the bank solicitor list. Am I still permitted to continue with my Tonteg conveyancing solicitor even though they are excluded from the lender approved list?
One will need to use a property lawyer to deal with the legal work required if you need a mortgage to purchase your property. The solicitor will carry out all the relevant due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage documentation is in place. You may appoint a Tonteg solicitor of your choosing. Nevertheless, where the conveyancer appointed is not a member of the mortgage company conveyancing panel further fees will be incurred as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so if your lawyer has not in the past applied for membership they should take the opportunity to apply.
We had selected conveyancers based in Tonteg on the Yorkshire BS solicitor panel. They are now charging me a separate fee for dealing with the Yorkshire BS mortgage. Is this an additional conveyancing fee set by Yorkshire BS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. This fee is not set by Yorkshire BS but by your Tonteg conveyancing practitioner. Plenty of firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee and others do not.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Tonteg conveyancer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Tonteg off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Will our lawyer be raising questions concerning flooding as part of the conveyancing in Tonteg.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Tonteg. There are those who acquire a house in Tonteg, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Tonteg. The conventional set of property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the seller, then a buyer could commence a claim for damages as a result of such an inaccurate response. A buyer’s lawyers may also conduct an enviro report. This should disclose whether there is a recorded flood risk. If so, further inquiries will need to be made.
Me and my brother own a semi-detached Victorian property in Tonteg. Conveyancing solicitor acted for me and Aldermore. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tonteg and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing solicitor who conducted the purchase.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Tonteg is the location of the property. Is there any guidance you can impart?
Flying freeholds in Tonteg are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tonteg you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tonteg may ascertain 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 premises.
What makes a Tonteg lease problematic?
There is nothing unique about leasehold conveyancing in Tonteg. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
-
A provision to repair to or maintain parts of the property Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I invested in buying a garden flat in Tonteg, conveyancing formalities finalised August 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Tonteg with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2095
You have 69 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.