Me and my partner are acquiring residence in Kidwelly. My Solicitor is not on the mortgage company approved list. Is it possible for me to continue with my Kidwelly conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
You have a number of alternatives available to you here
- Complete the deal with your existing Kidwelly conveyancing practitioner but your mortgage company will undoubtedly instruct a solicitor on their conveyancing panel. The net result is additional fees and probable delay.
- Choose a fresh conveyancing practitioner to conduct the conveyancing, ensuring that they are on the lender conveyancing panel.
- Convince your property lawyer to do everything within their powers to join the lender’s panel of solicitors
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Kidwelly?
There are many recorded licenced Conveyancers in Kidwelly and Solicitor practices in Kidwelly offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We are buying a end of terrace house in Kidwelly. Our aim is to convert the garage to an office at the property.Will legal investigations on the property involve investigations to see if these works were previously refused?
Your conveyancer will check the deeds as conveyancing in Kidwelly can on occasion identify restrictions in the title deeds which restrict certain works or necessitated the permission of another owner. Certain extensions call for local authority planning permissions and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
Completion of my remortgage has taken place for my property in Kidwelly. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I have a 4 bedroom Edwardian house in Kidwelly. Conveyancing lawyer represented me and Accord Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess 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 Kidwelly and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who completed the work.
I am purchasing my first flat in Kidwelly with a loan from Barclays Direct. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my conveyancer about this extras as it may impact my mortgage with Barclays Direct. 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.
I opted to have a survey carried out on a property in Kidwelly before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders will not grant a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kidwelly. Conveyancing will be smoother if you use a solicitor in Kidwelly especially if they are accustomed to such properties in Kidwelly.
I work for a busy estate agent office in Kidwelly where we see a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Kidwelly conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Kidwelly - A selection of Questions you should ask Prior to Purchasing
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Most Kidwelly leasehold flats will have a service bill for maintenance of the block invoiced by the management company. If you buy the property you will have to meet this contribution, usually quarterly during the year. This may be anything from several hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant figure, say around £25-£75 but you need to check it because on occasion it can be many hundreds of pounds. Where a Kidwelly lease has fewer than eighty years it will affect the value of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you would need to own the property for two years in order to be eligible to extend the lease.