Much to our surprise we have been advised by our mortgage broker that my Narberth the law firm I have appointed is not on the mortgage company Solicitor panel. How can I be sure that this is correct?
The best course of action for you to take is to contact your Narberth conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Narberth conveyancing firm that is on the conveyancing panel for your lender.
My wife and I buying a end of terrace house in Narberth. We would like to an extension at the rear at the house.Will legal investigations on the property involve investigations to see if these alterations are prohibited?
Your property lawyer will review the registered title as conveyancing in Narberth can sometimes reveal restrictions in the title documents which prohibit certain alterations or need the consent of a 3rd party. Many additions require local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
I'm the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Narberth. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a pragmatic view as this requirement is chiefly there to pick up on subsales or the quick reselling of properties.
I can not fathom if my mortgage offer requires a lease extension. I have called my Narberth bank branch on numerous occasions and was reassured it wasn't a problem and they would lend. My Narberth conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My friend advised me that if I am buying in Narberth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Narberth conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Narberth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Narberth Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Narberth Education with plans and statistics, Local Amenities and other useful data about Narberth.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Narberth I like with amenity areas and station nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Narberth for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
In my capacity as executor for the estate of my grandfather I am disposing of a residence in Swansea but live in Narberth. My solicitor (approximately 260 kilometers from meneeds me to sign a stat dec before completion. Could you suggest a conveyancing practitioner in Narberth who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Narberth based
Our offer on detached house in Narberth was agreed to, the seller does however have an associated purchase. The sellers have submitted an offer on somewhere, however it’s not yet agreed to, and has viewings of other flats in the pipeline. I have chosen a local conveyancing solicitor in Narberth. What do I do now? When do I get the mortgage application with Yorkshire BS started with Yorkshire BS?
It is normal to have apprehensions where there is an associated chain given your reluctance to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then survey, Narberth conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the Yorkshire BS approved list. Concerning the subsequent steps this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a buoyant market the majority of buyers will apply for a home loan with Yorkshire BS and arrange for the survey and only if it was satisfactory would they request their conveyancer to proceed with searches.