My husband and I are hoping to acquire a 2 bedroom apartment in Skewen with a mortgage. We wish to retain our Skewen solicitor, but the lender advise he's not on their "panel". We have to appoint one of the lender panel firms or retain our Skewen property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to demand that the lender use our Skewen solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Skewen conveyancing solicitor to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Skewen costs more?
The conveyancing fees on a leasehold property in Skewen is frequently greater as compared to a freehold acquisition or disposal. This is because there is an amount of supplemental work required in liaising with the landlord and managing agents to obtain information concerning whether the rent and service charges have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the block.
I require expedited conveyancing in Skewen as I am faced with a deadline to exchange contracts inside 3 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are not getting a home loan you are at free not to have searches carried out although no lawyer would suggest that you don't. With lots of history conveyancing in Skewen the following are instances of issues that can arise and adversely affect future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
4 months have gone by since my purchase conveyancing in Skewen concluded. I have checked the Land Registry website which shows that I paid £150,000 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 asset 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 am buying my first flat in Skewen benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of extras instead. The estate agent advised me not reveal to my conveyancer about this side-deal as it would adversely affect my mortgage with Godiva Mortgages Ltd. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Skewen is where the house is located. Is there any advice you can give?
Flying freeholds in Skewen are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Skewen you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Skewen may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.