I am getting a mortgage offer from Nat West. I intend to retain the legal services of a Licensed Conveyancer in Tenby. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
AssumingI were to buy a freehold propertyin Tenby for cash and have no survey and no local authority searches how much could I expect to have to pay for conveyancing in Tenby?
The sole reduction in fees you would make on is the disbursement for searches. The conveyancing practitioner is obliged to do the vast majority of work - money laundering, correspond with your sellers conveyancing practitioner, SDLT submission, register the property etc. A slight saving might be made by not having to register a charge however it will not be a lot.
I am helping my mother sell her property in Tenby. Does the conveyancer order the energy assessment or it is for the owner to coordinate?
Following the abolition of Home Packs, energy assessments was kept a compulsory component of moving property. An energy assessment should be commissioned prior to the property being advertised. It is not something that law firms ordinarily arrange. If you are instructing a Tenby conveyancing solicitor they may help arrange energy assessments given their relationships with reputable Tenby accredited person
Can you point me to a directory of UBS panel conveyancers in Tenby on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of banks make their panel listings open the public over the internet. If you are in need of a Tenby conveyancing practitioner on the UBS please make the most of our tool.
I have paid off my mortgage with HSBC. I assume I don't need a Tenby property lawyer on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
It has been three months following my purchase conveyancing in Tenby concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 am buying my first flat in Tenby with a mortgage from Aldermore. The sellers would not reduce the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the deal as it may 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Tenby I like with amenity areas and railway links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Tenby for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.