We are soon to complete on the purchase of a property in Tremeirchion but as a result of damage from some water damage at the property I have was able negotiate compensation from the current proprietors of £3k taking the form of a deduction in the price. This was going to be addressed as part of a side agreement yet HSBC are not allowing this. Why were they informed?
The conveyancing practitioner being on a HSBC approved list is required to inform HSBC of any amendments to the sale price. If you were to refuse your conveyancer to disclose the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new conveyancing practitioner for your conveyancing in Tremeirchion.
Can you explain why leasehold purchase conveyancing in Tremeirchion costs more?
Tremeirchion leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My fiance and I decided to purchase a newbuild flat in Tremeirchion with a homeloan from Alliance & Leicester .We use our Tremeirchion conveyancing solicitor but Alliance & Leicester says he's not on their approved list of firms. we are left little option but to use a Alliance & Leicester panel lawyer or keep our preferred solicitor and pay for a Alliance & Leicester panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the Alliance & Leicester approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Alliance & Leicester
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Tremeirchion. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Tremeirchion?
On the day of completion you do not need to go to the conveyancers office in Tremeirchion. Your solicitors will arrange to send the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
My aunt pointed out to me me that in purchasing a property in Tremeirchion there could be a number of restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Tremeirchion which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Tremeirchion should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
About to purchase flat in Tremeirchion. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Tremeirchion lawyer is on the Nottingham conveyancing panel.
Me and my brother own a renovated Victorian house in Tremeirchion. Conveyancing lawyer acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tremeirchion and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who conducted the purchase.
I am buying a new build flat in Tremeirchion. Conveyancing is a frightening process 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 is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Tremeirchion
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are architect prepared.