My husband and I are purchasing a 1 bedroom flat in Pantymwyn with a mortgage. We would like to retain our Pantymwyn solicitor, but the lender advise he's not on their "panel". It appears that we have no choice but to appoint one of the lender panel conveyancing practices or retain our Pantymwyn property lawyer and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Pantymwyn conveyancing lawyer to apply to be on the conveyancing panel.
I require conveyancing for a flat in a fairly new development (five years built) in Pantymwyn. Almost all the properties are already occupied. Is it really necessary to order local searches for my conveyancing in Pantymwyn?
You would be opening yourself up to an unnecessary risk in failing carrying out Pantymwyn conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would seriously advise in the strongest possible terms that you have them. Where accelerating the process and driving down costs are top of your issues you should discuss with your lawyer about the options such as contingency insurance available to you
Having sold my house in Pantymwyn last February but the buyer keeps e-mailing me to moan that his solicitor is waiting to hear from myconveyancer. What are the post completion sale legalities now that I have sold?
After completion of your sale your solicitor should forward the transfer documentation and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your conveyancer should also confirm that the legal charge in favour of the lender has been discharged to the purchasers solicitors. There is unlikely to be post completion requirements specific conveyancing in Pantymwyn.
My property lawyer in Pantymwyn has never been on on the Barnsley Building Society Approved Panel. Can I still retain my prefered solicitor even though they are not on the Barnsley Building Society panel?
Your options are as follows:
- Complete the purchase with your preferred Pantymwyn solicitors but Barnsley Building Society will need to retain a solicitor on their panel. This will inevitably rack up the overall conveyancing charges as well as cause frustration.
- Get an alternative practitioner to act in the conveyancing, not forgetting to check they are Persuade your lawyer to use their best endeavours to join the Barnsley Building Society conveyancing panel
I am buying my first flat in Pantymwyn with the aid of help to buy. The developers would not budge the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about the side-deal as it could affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Pantymwyn I like with amenity areas and station in the vicinity, however it only has 61 remaining years left on the lease. I can't really find anything else in Pantymwyn in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.