I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Roath with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
What will a local search inform me concerning the property my wife and I purchasing in Roath?
Roath conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays an important role in most Roath conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
It has been four months following my purchase conveyancing in Roath took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Roath with the aid of help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my lawyer about this deal as it would jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I opted to have a survey done on a house in Roath prior to retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies may refuse to grant a mortgage on such a property.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Roath. Conveyancing will be smoother if you use a solicitor in Roath especially if they regularly deal with such properties in Roath.
I am 3 weeks into a freehold purchase having been referred to conveyancers by the selling agent to carry out the conveyancing in Roath. We are not happy. Can you help me find new lawyers?
They would need to be very bad in order to consider diss instructing them. Has the mortgage been generated? If so you will need to make them aware of the new conveyancer and ensure the mortgage documents are re-sent. Your solicitor ideally should be on the lenders panel to avoid supplemental charges and frustration. So that should be your first question of the new solicitors. The search tool will help you find a lender approved conveyancer for your conveyancing in Roath