My best friend’s uncle is a property lawyer. I am hopeful that I will receive preferential pricing for conveyancing, but if not, what kind of costs should I be expecting for conveyancing in Machen?
It’s wise to request 3 or more like-for-like conveyancing quotes. Do use our comparison tool on this page. You will notice that quotes may vary but service levels do differ between conveyancers as is the case with most professions.
My husband and I are purchasing a newly built flat in Machen and my lawyer is telling me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am the sole recipient of my late mum's will and I have everything in my name now, including the house in Machen. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in December. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Most lenders would take a practical view as this requirement chiefly exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
Can you point me to a directory of Leeds Building Society panel conveyancers in Machen on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association sites. Very few mortgage companies make their panel listings viewable on the web. If you are seeking to appoint a Machen conveyancing practitioner on the Leeds Building Society please make the most of our facility.
The formalities of my purchase has taken place for my property in Machen. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Will our conveyancer be asking questions about flooding during the conveyancing in Machen.
Flooding is a growing risk for lawyers dealing with homes in Machen. Plenty of people will acquire a house in Machen, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or by their lawyers which can give them a better appreciation of the risks in Machen. The standard property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover whether the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser may commence a legal claim for losses as a result of such an inaccurate answer. A buyer’s conveyancers may also commission an enviro report. This should reveal if there is any known flood risk. If so, more detailed inquiries should be initiated.
I decided to have a survey completed on a house in Machen prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies may not grant a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. 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 help as they are accustomed to dealing with flying freeholds in Machen. Conveyancing will be smoother if you use a solicitor in Machen especially if they regularly deal with such properties in Machen.
My cousin has urged me to appoint his conveyancers in Machen. Should I use them?
No doubt the ideal way to choose a conveyancing lawyer is to have feedback from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.