We are about to exchange contracts for a leasehold flat in Margam. We have hit a stumbling block. Our loan offer with Alliance & Leicester runs out on 14/7/2025 but the vendors are insisting on a completion date of 16/7/2025. Can one extend the mortgage expiry date?
The person best placed to address this question is your conveyancer who will calculate whether they corresponding with the lender, vendor’s conveyancers, selling agents or possibly all three based on what has happend in your conveyancing to date.
Why do I have to pay up front for conveyancing in Margam?
If you are buying a property in Margam your lawyer will request that you put them with monies to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the conveyancing searches. If any down payment is as part of the sale price then this will be asked for immediately prior to exchange of contracts. The final balance that is needed will be payable a couple of days ahead of the day of completion.
Please help - my lawyer says that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Margam?
The appropriate level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Halifax and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am selling my flat. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being a right pain. The Margam solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase flat in Margam. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore 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 Margam conveyancer is on the Aldermore conveyancing panel.
What will a local search reveal regarding the house we're buying in Margam?
Margam conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search is essential in every Margam conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Me and my brother purchased a semi-detached Victorian house in Margam. Conveyancing lawyer represented me and Santander. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
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 Margam and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
Why am I unable to complete my conveyancing in Margam on Good Friday?
Because on completion the sale price needs to pass between the banks of the purchaser and seller's property lawyer and at present this can only happen on a working day. So you can't complete on a weekend either.