My wife and I are buying a new build apartment in Tremeirchion and my lawyer is advising me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I had an offer accepted on a house in Tremeirchion on 27/11/2024, valuation was booked five days after, all came back fine. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to UBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the UBS conveyancing panel. Are UBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Tremeirchion solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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 Tremeirchion 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.
Santander have agreed my mortgage in principle, my offer on a property in Tremeirchion has been accepted, what are the next steps?
Your property agent will want to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Telephone Santander or the financial adviser and complete any appropriate documentation. Santander will sellect a valuer who will get in contact with the selling agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately a week to get a mortgage offer. Santander will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Tremeirchion.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Tremeirchion is where the house is located. Can you shed any light on this issue?
Flying freeholds in Tremeirchion are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tremeirchion you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tremeirchion may ascertain 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.
What tools are available to identify a Tremeirchion solicitor on the Skipton Building Society conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the solicitor.
You can use the tool on this website. Please pick a lender and your location and you will see a number of Tremeirchion conveyancing lawyers based on proximity. We have listed some Tremeirchion conveyancing firms at the bottom of this page and you can telephone them to verify whether they are on the Skipton Building Society panel
I own a leasehold house in Tremeirchion. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Tremeirchion who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Tremeirchion conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Tremeirchion Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
-
You should be aware that where the lease has less than eighty years it will affect the value of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Tremeirchionlease extensions you will need to own the residence for 24 months before you are entitled to extend the lease. Make sure you find out if there are any onerous restrictions in the lease. By way of example it is fairly common in Tremeirchion leases that pets are not allowed in certain buildings in Tremeirchion. If you like the propertyin Tremeirchion however your cat is not allowed to make the move with you then you will be faced difficult decision. How much is the ground rent and service charge?
To what extent are Tremeirchion conveyancing solicitors duty bound by the Law Society to publish transparent conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Tremeirchion or further afield.