Am I correct in assuming that the fact that my solicitor in Treuddyn is not on my bank's conveyancing panel that there is a problem with the standard of his work?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Treuddyn conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Why is leasehold purchase conveyancing in Treuddyn costs more?
Treuddyn leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Can I be sure that the Treuddyn conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Treuddyn getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your transaction.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Treuddyn solicitor on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
It is unclear whether my mortgage offer requires a lease extension. I have called my Treuddyn bank branch on numerous occasions and was told they are content with the situation and they would lend. My Treuddyn conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your property lawyer must comply with the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What can a local search tell me regarding the house we're buying in Treuddyn?
Treuddyn conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Treuddyn conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I'm buying a new build house in Treuddyn with the aid of help to buy. The developers would not move on the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not to tell my solicitor about the extras as it could 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Treuddyn I like with a park and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Treuddyn suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.