My fiance and I are looking to purchase a house in Nannerch and have instructed a Nannerch conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Britannia have this evening contacted us to advise us that they have now hit a problem as our Nannerch lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Nannerch lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My wife and I are acquiring a newly constructed duplex in Nannerch and my solicitor is advising me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange 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 conveyancing practitioner. A precondition to being on a lender 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.
Please help - my lawyer says that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Nannerch?
The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
We are getting a further advance on our home loan from Yorkshire BS as we want to carry out a loft conversion to our property in Nannerch. Are we obliged to choose a high street Nannerch solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS would not normally require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS list.
Two weeks ago we had a mortgage agreed in principle with Principality. Nannerch conveyancing lawyers have been chosen. How long does it take for Principality to issue the offer to the lawyer?
Some lenders take longer than others. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Nannerch. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Nannerch
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
I opted to have a survey carried out on a house in Nannerch ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some lenders tend refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Nannerch. Conveyancing may be slightly more expensive based on your lender's requirements.
What range of conveyancing matters do Nannerch conveyancing organisations supply?
On the whole Nannerch conveyancing organisations tend to carry out a broad sphere of assistance to home and land proprietors, vendors, purchasers, landlords and tenants including the following:
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Domestic sale conveyancing in Nannerch and beyond
Domestic purchase conveyancing in Nannerch and also around the country
Shared equity purchase (part buying and part renting) Islamic mortgage transactions Conveyancing for builders and developers Nannerch lease extensions and enfranchisement matters