I am hoping to complete my purchase in Roath Park next Friday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in Roath Park.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Roath Park. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
If you intend to refinance then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Can I be sure that the Roath Park conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Roath Park obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer conducting your transaction.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Roath Park lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I have finally had an offer on a maisonette in Roath Park accepted, but there is a chain. The sellers have offered on a flat, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Roath Park. What do I do now? At what stage do I apply for the mortgage with Santander?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Roath Park conveyancing search charges, etc). The first thing to do is ensure that your property lawyer is on the Santander conveyancing panel. As to the next steps this very much depends on the uniqueness of your case, desire for the property and on the state of the market. During a hot market many home buyers would apply for the mortgage with Santander and pay for the valuation and only if it comes back ok would they pay their conveyancer to move forward with searches.
How does conveyancing in Roath Park differ for newly converted properties?
Most buyers of new build property in Roath Park contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Roath Park typically purchase the site, 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 accustomed to new build conveyancing in Roath Park or who has acted in the same development.
How straightforward is it to use your search app to locate a conveyancing solicitor in Roath Park on the approved list for my mortgage?
1st pick a mortgage company such as Lloyds TSB Bank, Virgin Money or Godiva Mortgages Ltd then choose your preferred area such as Roath Park. Conveyancing organisations in Roath Park and nationally should be identified.
What should I expect to pay for conveyancing in Roath Park?
Almost all Roath Park conveyancing practices will agree to a standard fee. If additional work becomes necessary during the conveyancing your solicitor must inform you in writing of any further charges for such work immediately it becomes foreseeable. Some work on a no sale no charge basis, others will levy an bill for a fraction of the set costs, according to the point at which the matter falls through.
It may be helpful for you to obtain a few conveyancers to give you a quotation.