Find a Blaina Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Blaina? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Blaina home move at risk of delay or failure.

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Recently asked questions about conveyancing in Blaina

Unfortunately I am unable to travel far from Blaina. Can you please spell out why all Blaina property lawyers are not on all bank panels?

Lenders tend to restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that the practice is required to have at least two partners. In addition to restricting the structure of firm, some have made a decision to limit the size of their panel they permit to represent them. You should note that banks have no responsibility for the standard of service given by any Blaina property lawyer on their panel. Increases in mortgage fraud was the key driver in the culling of solicitor panels in the last decade even though there are conflicting opinions concerning whether solicitors sat at the center of that fraud. Statistics via HM Land Registry exposes that thousands of law organisations only transact a couple of conveyances annually. Those supporting conveyancing panel consolidation ask why conveyancing firms should have claim to be listed on a bank panel when clearly property law is not their primary expertise?

About to place an offer on a leasehold apartment in Blaina. The property agents assure me that it is normal for flats in Blaina to have less than 75 years unexpired on the lease. I am taking out a loan with Accord Mortgages. Is this going to be acceptable if the lease has Seventy One years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/1/2021 the requirements read as follows :

85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

Have completed on a a semi-detached house in Blaina , how long will it take for the Land Registry to register my proprietorship? My Blaina conveyancing solicitor works at snail pace, so I want to be sure the registration formalities are addressed.

There is nothing unique when it comes to conveyancing in Blaina registration formalities. Rather than based on location, timescales can adjust depending on who lodges the application, whether there are errors and whether the Land registry communicate with any interested persons or bodies. Currently in the region of 80% of such applications are completed in less than three weeks but some can be subject to longer hold-ups. Historically registration takes place once the purchaser is living at the premises so 'speed' is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.

I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Blaina is where the house is located. Can you offer any assistance?

Flying freeholds in Blaina are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Blaina you must be sure that your lawyer goes 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 Blaina 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 property.

Do you have any advice for leasehold conveyancing in Blaina from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Blaina can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Blaina state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such alterations. Should you fail to have the consents in place do not communicate with the landlord without contacting your lawyer before hand. Some Blaina leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a replacement share certificate is often a lengthy process and delays many a Blaina home move. Where a new share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

Leasehold Conveyancing in Blaina - Sample of Questions you should consider Prior to buying

    Best to be warned if fixing the lift or some other major work is due in the near future that will be shared between the leaseholders and will materially increase the the service charges or require a specific invoice. Many Blaina leasehold properties will be liable to pay a service charge for maintenance of the block set on behalf of the management company. Should you purchase the property you will have to pay this charge, usually periodically accross the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge to be met annual, ordinarily this is not a exorbitant amount, say about £50-£100 but you need to check as on occasion it can be prohibitively expensive.

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Find out more about how flying freehold can affect your the value of a property.