We're in Dolwyddelan, First time buyers buying with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am helping my aunt sell her flat in Dolwyddelan. Does the solicitor commission the energy performance certificate or it is for the owner to coordinate?
After the abolition of HIPs, energy assessments was maintained a mandatory component of selling a house. An EPC must be to hand before the property is marketed. This is not something that conveyancers normally arrange. Where you are using a Dolwyddelan conveyancing lawyer they might be able to arrange energy performance certificates given their relationships with long established Dolwyddelan providers
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Dolwyddelan building society branch on a couple of occasions and was reassured it wasn't an issue and they will lend. My Dolwyddelan conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the solicitor is on the bank panel, they must comply with the CML Handbook requirements 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My sealed bid on a house in Dolwyddelan has been accepted, the vendors do nevertheless have a connected purchase. The owners have offered on a property, but it’s not yet tied up, and are looking at other apartments booked. I have instructed a nearby conveyancing solicitor in Dolwyddelan. What do I do now? When should I get the mortgage application with Principality going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Dolwyddelan conveyancing search fees, etc). The first thing to do is check that your solicitor is on the Principality approved list. Concerning the subsequent stages this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a hot market some buyers would apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they request their property lawyer to press on with searches.
A friend suggested that where I am buying in Dolwyddelan I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Dolwyddelan conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Dolwyddelan 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 type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Dolwyddelan Education with plans and statistics, Local Amenities and other useful data concerning Dolwyddelan.
Due to the guidance of my in-laws I had a survey completed on a house in Dolwyddelan before retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend not grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Dolwyddelan. Conveyancing will be smoother if you use a solicitor in Dolwyddelan especially if they are familiar with such properties in Dolwyddelan.
Am I right to be concerned about brokers that I am dealing with are suggesting an internet conveyancing firm as opposed to a High Street Dolwyddelan conveyancing practice?
As with many service providers, often recommendations from family and friends can be extremely useful or valuable. But there are lots of players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all put forward solicitors to instruct. On occasion these solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You have the right to appoint your own conveyancer. You need to be aware that most lenders specify a panel list of law firms you must use for the lender aspect of your conveyancing.