We are soon to exchange on the purchase of a house in Trefnant but as a result of damage from the recent storms I have managed to agree compensation from the owner in the sum of three thousand pounds in the form of a deduction in the price. This was going to be dealt with as part of the conveyancing process yet HSBC are not allowing this. Why were they informed?
Your lawyer that is on a HSBC approved list is required to advise HSBC of any variations to the sale price. If you were to refuse your conveyancing practitioner to report the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new property lawyer for your conveyancing in Trefnant.
As someone not used to conveyancing in Trefnant what’s your top tip you can impart for the ownership transfer in Trefnant
Not many law firms shout this from the rooftops but conveyancing in Trefnant and elsewhere in Denbighshire is an adversarial experience. In other words, when it comes to conveyancing there exists an abundance of opportunity for friction between you and others involved in the ownership transfer. For instance, the seller, property agent and even potentially a lender. Choosing a law firm for your conveyancing in Trefnant an important selection as your conveyancer is your adviser, and is the SOLE party in the transaction whose responsibility is to act in your best interests and to protect you.
On occasion a potential adversary will attempt to convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by claiming that your conveyancer is wrong. Or your financial adviser may try to convince you to do take action that is contrary to your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Trefnant?
There are many recorded licenced Conveyancers in Trefnant and Solicitor partnerships in Trefnant who can assist with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Trefnant conveyancing practitioner on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I have instructed a Trefnant conveyancing practitioner having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Trefnant surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
We are downsizing from our property in Trefnant and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Trefnant conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using a factory type conveyancing firm rather than a conveyancing solicitor in Trefnant. We have lived in Trefnant for 5 years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I am purchasing my first flat in Trefnant benefiting from help to buy. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my conveyancer about the side-deal as it could put at risk my mortgage with Coventry Building Society. Do I keep my lawyer in the dark?.
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 house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Trefnant is the location of the property. Can you shed any light on this issue?
Flying freeholds in Trefnant are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Trefnant you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Trefnant may determine 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 property.