Last month we had a mortgage agreed in principle with Virgin Money. Cyncoed conveyancing lawyers have been selected. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am buying a property in Cyncoed. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
Given that you are obtaining a mortgage with UBS your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to UBS where a lease does not satisfy these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Cyncoed.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Cyncoed bank branch on numerous occasions and was told they are content with the situation and they would lend. My Cyncoed conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the conveyancer is on the lender panel, they must comply with the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Cyncoed?
Unless a prior purchase of the property took place after 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Cyncoed to continue to suggest a chancel search and or insurance against a claim.
It has been 2 months since my purchase conveyancing in Cyncoed completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a property in Cyncoed in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cyncoed. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it possible to swap solicitor as I need to find one who is on the Santander conveyancing panel. I had appointed a high street conveyancing solicitor in Cyncoed five minutes from me but the firm is not accepted by Santander
It would be our pleasure to help you find a conveyancing solicitor in Cyncoed on the Santander panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Cyncoed. Using the find a conveyancing solicitor tool on this site, you can contrast charges for conveyancing solicitors in Cyncoed and beyond.