My wife and I are intending to buy a 1 bedroom flat in Treharris with a mortgage. We like our Treharris solicitor, but the lender says he's not on their "panel". It appears that we have no option but to appoint one of the mortgage company panel solicitors or retain our Treharris property lawyer and pay for one of their panel firms to act for them. We regard this is inequitable; are we not able to require that the bank use our Treharris lawyer ?
Unfortunately,no. The mortgage offered to you 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. Another option that might be available is for your Treharris conveyancing lawyer to apply to be on the conveyancing panel.
I am purchasing a newly built apartment in Treharris and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the builder. I am under pressure to exchange contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
A friend recommended that if I am purchasing in Treharris I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Treharris conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Treharris around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Treharris Education with maps and statistics, Local Amenities and other useful data concerning Treharris.
Just bought a detached house in Treharris , how long should it take for the Land Registry to register my proprietorship? My Treharris conveyancing solicitor has been painfully slow, so I want to be certain that my name is registered.
There is nothing unique about conveyancing in Treharris registration formalities. Rather than based on location, timeframes can adjust according to the party submitting the application, whether there are errors and if the Land registry need to notify any third parties. Currently approximately 80% of such applications are fully dealt with within 12 days but occasionally there can be longer delays. Registration takes place once the purchaser has moved in to the property so registration formalities is not usually top priority but if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Treharris differ for new build properties?
Most buyers of new build residence in Treharris approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Treharris tend to acquire the site, 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 used to new build conveyancing in Treharris or who has acted in the same development.
I decided to have a survey carried out on a property in Treharris ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not grant a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you e-mail us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Treharris. Conveyancing may be slightly more expensive based on your lender's requirements.