Our Torfaen solicitor has discovered an inconsistency between the information in the valuation survey and what is revealed within the conveyancing documents. My lawyer says that he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who handled the conveyancing in Torfaen 10 years ago have long since closed. What do I do?
Nowadays there are copies made of almost everything, and your lawyer should be aware exactly where to look for all the relevant documentation so you may buy or dispose of your house without a hitch. Where copies are not available, your lawyer can put in place insurance or indemnities protecting you against future claims on your property.
I am buying a new build house in Torfaen benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not inform my solicitor about the extras as it will affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Torfaen is the location of the property. Is there any advice you can impart?
Flying freeholds in Torfaen are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Torfaen you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Torfaen 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.
My business partner and I are looking to take over a lease of an office on the high street. Can you recommend solicitors offering fixed charges for non-domestic conveyancing in Torfaen for less than 1500k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Torfaen, including the disposal and acquisition of businesses as well as simply property. If you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. Regarding the costs this will depend on the structure and terms of the deal. Please provide us with your details or email so as to enable us to provide you with a fixed commercial conveyancing quote.
In my capacity as executor for the will of my grandmother I am disposing of a property in Newport but live in Torfaen. My solicitor (who is 200 miles awayneeds me to sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Torfaen to witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are based in Torfaen