My wife and I are buying a newly built flat in Nantyglo and my lawyer is telling me that she has to the mortgage company to disclose incentives from the builder. I am under pressure to sign contracts and I would rather not delay 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 mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My wife and I are buying a apartment in Nantyglo. I might seem paranoid but how we can trust a conveyancer? At some point we have to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all Nantyglo CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing list of approved solicitors?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Nantyglo solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Nantyglo postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Nantyglo.
Should our conveyancer be asking questions concerning flooding as part of the conveyancing in Nantyglo.
The risk of flooding is if increasing concern for solicitors dealing with homes in Nantyglo. There are those who buy a property in Nantyglo, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a number of searches that may be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Nantyglo. The conventional set of information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to find out whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a purchaser could commence a claim for damages stemming from an misleading response. The purchaser’s conveyancers may also conduct an environmental search. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries should be conducted.
My wife and I have a renovated Victorian property in Nantyglo. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for 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 Nantyglo and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing lawyer who completed the work.
How does conveyancing in Nantyglo differ for new build properties?
Most buyers of new build property in Nantyglo approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Nantyglo usually purchase the real estate, 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 Nantyglo or who has acted in the same development.
My company is intending to take over a lease of an office on a shopping parade. Can you recommend lawyers offering no-move-no fees for commercial conveyancing in Nantyglo for under £2000?
We can recommend firms who host a wealth of experience of commercial conveyancing in Nantyglo, including the disposal and acquisition of businesses as well as simply premises. If you are intending to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right firm. As for the fees these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or phone us so that we may provide you with a fixed commercial conveyancing calculation.