Me and my husband are acquiring a ground floor flat in Torfaen. My Solicitor is not on the lender approved list. Can I still retain my Torfaen conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
You will need to appoint a conveyancing practitioner to deal with the legal work required if you take out a loan to purchase your property. The property lawyer will carry out all the necessary investigations on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage paperwork is dealt with. You may instruct a Torfaen conveyancing practitioner of your choice. However, where the property lawyer selected is not a member of the mortgage company approved list further fees will be levied as separate legal representation will be required by them. Lender panel applications can be submitted, so if your lawyer has not previously sought membership they should do so.
AssumingI were to purchase a straightforward propertyin Torfaen mortgage fee and have no survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Torfaen?
Any savings you would make will be limited to the Torfaen conveyancing searches. Your conveyancing practitioner still got to do everything else - money laundering, communicating with the sellers solicitor, SDLT submission, register the ownership etc. A slight saving might be made by not needing to register a mortgage but it won't be meaningful.
In what way does my ID and proof of funds have anything to do with my conveyancing in Torfaen? Is this really warranted?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Torfaen. Nowadays you can not complete any conveyancing transaction if you have not providing proof of your identity. This usually takes the form of a either your passport or driving licence as well as a utility bill. Please note that if you are providing your driving licence as evidence of identification it must be both the paper section as well as the photo card part, one is not satisfactory without the other.
Proof of the source of monies is required under Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancer must have this information on file. Your Torfaen conveyancing solicitor will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask additional questions concerning the origin of funds.
The estate agent has sent us the confirmation of our purchase of a new build flat in Torfaen. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Torfaen
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Torfaen is the location of the property. Can you shed any light on this issue?
Flying freeholds in Torfaen are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Torfaen you must be sure that your lawyer goes 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 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 premises.
My uncle has recommend that I use his lawyers for conveyancing in Torfaen. Should I use them?
Much as we are happy to recommend a Torfaen conveyancing lawyer the ideal way to choose a conveyancing lawyer is to have feedback from friends or family who have actually used the solicitor that you are considering.