When it comes to mortgage companies such as TSB, do Abercarn conveyancers incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I recently had an offer agreed on an apartment in Abercarn. My mortgage broker suggested a conveyancing practitioner. I paid an upfront payment of £175. Not long after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
HSBC have agreed my mortgage in principle, my offer on a property in Abercarn has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Contact HSBC or your financial adviser and complete any outstanding forms. HSBC will instruct a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. HSBC will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Abercarn.
Me and my brother have a terraced Georgian house in Abercarn. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching address. Is it worth asking National Westminster Bank to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Abercarn and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Abercarn differ for newly converted properties?
Most buyers of new build property in Abercarn come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Abercarn usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Abercarn or who has acted in the same development.
My husband and I are novice buyers - agreed a price, yet the selling agent informed us that the vendor will only go ahead if we appoint their preferred solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Abercarn
We suspect that the owner is unaware of this demand. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated buyer is likely to cause more damage than good. Contact the vendors directly and make sure they understand (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)but you intend to instruct your own,trusted Abercarn conveyancing lawyers - not the ones that will give their negotiator at the agency a kickback or meet his conveyancing figures pre-set by senior management.
I’m about to sell my 2 bed flat in Abercarn. Conveyancing is yet to be initiated, but I have recently received a yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the maintenance contribution as you normally would as all ground rent and service payments will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Abercarn Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
How is the lease structured? The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the leaseholders have being in charge if their destiny and although a managing agent is often employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Are any of leasehold owners in dispute over their service charge payments?