It has come to my attention via my estate agent that my Llanrumney property lawyer is not on the lender Conveyancing panel. How can I check?
Your first step should be to contact your Llanrumney lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
I currently have a mortgage with Principality for my property in Llanrumney. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
You must advise Principality before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel firm.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Llanrumney bank branch on various occasions and was informed it wasn't an issue and they would lend. My Llanrumney conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the bank panel, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 remaining.
Intending to buy a apartment in Llanrumney. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Llanrumney conveyancer is on the Nationwide conveyancing panel.
I own a semi-detached Victorian house in Llanrumney. Conveyancing practitioner represented me and Barnsley Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llanrumney and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Llanrumney differ for new build properties?
Most buyers of new build or newly converted property in Llanrumney come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Llanrumney tend to purchase 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 conveyancing solicitors 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 used to new build conveyancing in Llanrumney or who has acted in the same development.
I'm converting the mortgage on my primary property to a buy to let mortgage with Lloyds TSB Bank and I will use the rest of the raised equity towards a second house. The neighborhood we are interested in is Llanrumney. Will your solicitors be able to act for the two mortgage companies and tie in the conveyances?
Do use our search tool on this page to ensure that the lawyers are approved by both lenders. Having checked that they are your conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and make clear your desired outcome and requirements.
We're novice buyers - agreed a price, yet the agent told us that the vendor will only proceed if we appoint the agent's preferred solicitors as they want an ‘expedited deal’. We would rather use a local conveyancer who is accustomed to conveyancing in Llanrumney
We suspect that the owner is not behind this ultimatum. If they want ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Try to communicate with the owners directly and make sure they understand (a)you are serious buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you will continue to use your preferred Llanrumney conveyancing lawyers - not the ones that will provide the negotiator at the agency a referral fee or achieve conveyancing thresholds pre-set by senior management.