I have just been advised by my broker that my Powys property lawyer is not on the lender Conveyancing panel. What can I do to check?
The best course of action for you to take is to contact your Powys lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I am about to exchange buying a property in Powys but as a consequence of wreckage from some water damage at the property I have was able negotiate reparation from the vendor in the sum of £3k in the form of a reduction in the price. This was going to be addressed as part of amending the contract yet Santander will not permit this. Why were they informed?
Your conveyancing practitioner being on a Santander approved list is obliged to advise Santander of any amendments to the sale price. If you were to refuse your lawyer to report the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new solicitor for your conveyancing in Powys.
My aunt advised me that in buying a property in Powys there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are a number of properties in Powys which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Powys should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Powys solicitor practices on the Aldermore conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
I am selling my flat. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being problematic. The Powys solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Powys. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Powys
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the advice of my in-laws I had a survey completed on a house in Powys in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies tend not issue a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Powys. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Powys to see if the conveyancing will be more expensive.
I’m about to sell my 2 bed apartment in Powys. Conveyancing is yet to be initiated, but I have just had a yearly service charge demand – Do I pay up?
It best that you clear the invoice as normal because all rents and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Powys - Sample of Questions you should consider Prior to Purchasing
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Are any of leasehold owners in arrears of their service charge liability? Many Powys leasehold flats will have a service bill for the upkeep of the block levied on behalf of the landlord. Where you buy the apartment you will have to pay this contribution, normally quarterly accross the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant figure, say around £25-£75 but you need to check it because occasionally it can be many hundreds of pounds. It would be sensible to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to practical issues like the tidiness of the common parts. Ask other people whether they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.