Our Llanbrynmair lawyer has identified a difference when comparing the information in the home valuation report and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am currently in the process of buying my council flat in Llanbrynmair. I have a mortgage offer with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Llanbrynmair solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Llanbrynmair surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My sealed bid on a detached house in Llanbrynmair has been agreed to, but there is a chain. The owners have offered on somewhere, however it’s not been accepted yet, and are looking at other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Llanbrynmair. What do I do now? At what stage do I apply for the mortgage with Aldermore?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Llanbrynmair conveyancing search costs, etc). The first course of action is to ensure that your conveyancing practitioner is on the Aldermore conveyancing panel. Regarding the next steps this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market the majority of purchasers will apply for a home loan with Aldermore and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to move forward with the conveyancing in Llanbrynmair.
A friend suggested that if I am buying in Llanbrynmair I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Llanbrynmair conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Llanbrynmair around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Llanbrynmair Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Llanbrynmair Education with plans and statistics, Local Amenities and other useful information about Llanbrynmair.
How does conveyancing in Llanbrynmair differ for new build properties?
Most buyers of new build premises in Llanbrynmair come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Llanbrynmair typically buy 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 conveyancers 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 accustomed to new build conveyancing in Llanbrynmair or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Llanbrynmair I like with a park and station nearby, the downside is that it's only got 49 years on the lease. There is not much else in Llanbrynmair in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan that many years will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
My cousin has suggested that I use his lawyers for conveyancing in Llanbrynmair. Do I take his recommendation?
No doubt it’s preferable to find a conveyancing practitioner is to get feedback from friends or family who have previously instructed the solicitor that you are are thinking of instructing.