We are a couple about to exchange contracts for a property in Torfaen. We have hit a snag. Our loan offer with Britannia runs out on 15/3/2021 but the owners are suggesting a completion date of 17/3/2021. Is it possible to extend the loan expiry date?
The best person to address this concern is your conveyancer who is in a position to calculate whether they should be discussing with the mortgage company, owner’s solicitors, selling agents or conceivably all three based on what has happend in your transaction to date.
A relative pointed out to me me that in purchasing a property in Torfaen there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Torfaen which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Torfaen should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We expect to receive a AIP from TSB this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Torfaen solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Torfaen solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
Leeds Building Society have agreed my home loan in principle, my offer on a apartment in Torfaen has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (make sure the conveyancers are on the bank’s panel). Contact Leeds Building Society or the financial adviser and complete any appropriate forms. Leeds Building Society will instruct a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Leeds Building Society will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Torfaen.
My relative advised me that if I am buying in Torfaen I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Torfaen conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Torfaen around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Torfaen Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Torfaen Education with maps and statistics, Local Amenities and other useful data concerning Torfaen.
I have been pointed in your direction by a number of property agents in Torfaen to get a quote from a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to market your site ahead of a competitor’s?
We don’t give any commission for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My uncle has suggested that I appoint his lawyers for conveyancing in Torfaen. Should I use them?
Much as we are happy to recommend a Torfaen conveyancing lawyer it’s preferable to choose a conveyancing lawyer is to get referrals from friends or family who have used the firm you're are thinking of instructing.
I'm buying a property in Torfaen. I can find my conveyancer's company on the CLC list, but I can't find my conveyancer's name on the list. Should I be concerned?
Not every individual in the practice must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.