We are purchasing a 1 bedroom flat in Hengoed with a mortgage. We have a Hengoed lawyer, however the lender says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Hengoed lawyer and pay for one of their panel ones to represent them. We consider that this is unjust; is there anything we can do?
No, not really. 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. A further alternative is for your Hengoed conveyancing lawyer to apply to be on the conveyancing panel.
The owners of the property we are hoping to buy hired a conveyancing firm in Hengoed who has recommended a lock out contract with a payment 10k. Is it wise to enter into such agreements?
There are a couple of primary downsides with executing a lock out agreement (sometimes termed a shut-out contract) is that it takes away the focus from moving forward with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular by Hengoed conveyancing practitioners for this reason. A further concern is the extent of the remedies available - an aggrieved purchaser is very unlikely to be issued with injunctive relief to prohibit the seller selling to a third party, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in rare circumstances, the additional payment of damages.
I have Fifty Six years remaining on my lease and need a lease extension for my apartment in Hengoed. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/1/2021 the requirements read as follows :
I used Arc property Solicitors several years ago for my conveyancing in Hengoed. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hengoed of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Hengoed is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hengoed 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 Hengoed you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hengoed may ascertain 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 residence.
I have finally had an offer on an maisonette in Hengoed accepted, the vendor does nevertheless have a dependent purchase. The current proprietors have submitted an offer on somewhere, however it’s not been accepted yet, and are looking at other flats booked. I have instructed a local conveyancing solicitor in Hengoed. What do I do now? When should I get the mortgage application with Santander going with Santander?
It is standard to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of one thousand pounds, then survey, Hengoed conveyancing search charges, etc). The first thing to do is check that your conveyancing practitioner is on the Santander conveyancing panel. Regarding the subsequent steps this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a buoyant market some home buyers would apply for the mortgage with Santander and pay for the survey and only if it was satisfactory would they ask their solicitor to proceed with searches.