Our conveyancer has uncovered a a problem with the lease for the apartment we are purchasing in Blaenau Gwent. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We are planning to buy with Earl Shilton BS. I called into a few local solicitors but am struggling to find a Blaenau Gwent conveyancing firm on the Earl Shilton BS panel. Please you assist?
You should make the most of the search tool on this site. Please choose the mortgage company and type Blaenau Gwent or your location and you will see numerous solicitors located in Blaenau Gwent or by proximity to you.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Blaenau Gwent?
Two types of professional can execute conveyancing in Blaenau Gwent namely CLC regulated conveyancers or solicitors. The two can handle the legal services that you need to complete the disposal or purchase of property. Both are duty bound to execute Blaenau Gwent conveyancing to the same quality and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that all necessary steps should be correctly adhered to.
This question may be naive but I am unseasoned as FTB of a garden flat in Blaenau Gwent. Do I collect the keys to the premises on completion from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Blaenau Gwent?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
I happen to be the only beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Blaenau Gwent. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view mortgage companies take of it, depend on the mortgage company as this obligation primarily exists to identify the purchase and immediately sell or the quick reselling of property.
My friend suggested that if I am purchasing in Blaenau Gwent I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Blaenau Gwent conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Blaenau Gwent around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Blaenau Gwent Education with maps and statistics, Local Amenities and other useful information concerning Blaenau Gwent.
I decided to have a survey carried out on a house in Blaenau Gwent before instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks will refuse to grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Blaenau Gwent. Conveyancing may be slightly more expensive based on your lender's requirements.