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Find a Monmouthshire Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Monmouthshire

The owners of the house we are looking to purchase have instructed a conveyancing practitioner in Monmouthshire who has insisted on a exclusivity agreement with a deposit 6,000. Are such agreements appropriate for Monmouthshire conveyancing transactions?

There are a couple of primary concerns with executing a lock out agreement (also known as an exclusivity agreement) is that it can distract from progressing with the conveyancing process, so in the absence of it needing minimal or no negotiation then it could transpire to be a hindrance. It is not promoted amongst Monmouthshire conveyancing lawyers as a result. The other main issue is the extent of the remedies available - a jilted purchaser is extremely unlikely to win an injunction to stop the seller selling to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in rare scenarios, the additional payment of damages.

I am assisting my aunt sell her property in Monmouthshire. Does the solicitor commission an energy performance certificate or do I organise this?

Following the abolition of HIPs, energy assessments was left as a mandatory part of moving house. An energy assessment must be commissioned prior to the property being put on the market. This is not as aspect of the sale process that law firms ordinarily organise. If you are instructing a Monmouthshire conveyancing solicitor they may help arrange energy assessments due to their contacts with reputable local accredited person

I recently had an offer accepted on an apartment in Monmouthshire. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A few days later, the property lawyer called me sheepishly admitting that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

HSBC have agreed my home loan in principle, my bid on a flat in Monmouthshire has been accepted, now what?

The property agent will need to be advised as to your solicitor's details (ensure that the lawyers are on the bank’s approved list). Telephone HSBC or the broker and complete any appropriate paperwork. HSBC will instruct a valuer who will get in touch with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes about a week to get a mortgage offer. HSBC will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Monmouthshire.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Monmouthshire?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Monmouthshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am looking for a flat up to £305k and identified one close by in Monmouthshire I like with a park and station nearby, however it's only got 61 years on the lease. There is not much else in Monmouthshire in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.

Last December I purchased a leasehold house in Monmouthshire. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Monmouthshire Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

    It would be prudent to enquire if there is anything that is prohibited in the lease. For instance it is reasonably common in Monmouthshire leases that pets are not allowed in certain buildings in Monmouthshire. If you like the propertyin Monmouthshire yet your dog can’t make the move with you then you will be presented with a hard choice. Is anyone aware of any major works anticipated that will likely increase the maintenance fees? The majority of Monmouthshire leasehold properties will have a service charge for the upkeep of the block invoiced on behalf of the landlord. If you acquire the apartment you will have to pay this liability, normally in instalments during the year. This can differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant figure, say around £50-£100 but you should to check it because on occasion it can be many hundreds of pounds.

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