The Abercynon conveyancing firm handling our Abercynon conveyancing has uncovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer informs me that he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My grandmother passed away last year and as sole heir and executor I was left the house in Abercynon. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
We previously appointed conveyancing lawyers locally in Abercynon on the UBS solicitor panel. They are now charging me an additional charge for handling the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner can levy a fee for this. The fee is not dictated by UBS but by your Abercynon solicitor. Some firms on the UBS panel will levy ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
I'm in the process of looking at apartments in Abercynon and I am now considering a potential offer. Is it wise to have a conveyancer on ‘stand by’? I will be getting a mortgage with Coventry BS.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are seeking a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
My offer on a property in Abercynon has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Abercynon. What should be my next step? At what point do I apply for the mortgage with UBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then valuation, Abercynon conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the UBS approved list. As to the next stages this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. During a hot market many buyers will apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with the conveyancing in Abercynon.
How does conveyancing in Abercynon differ for new build properties?
Most buyers of new build premises in Abercynon approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Abercynon usually purchase the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Abercynon or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Abercynon in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some lenders tend refuse to issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Abercynon. Conveyancing may be slightly more expensive based on your lender's requirements.