It has come to my attention via my financial adviser that my Mynydd Isa the law firm I have appointed is not on the lender Solicitor panel. What can I do to check?
Your first step should be to contact your Mynydd Isa conveyancer. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may be able to suggest a Mynydd Isa conveyancing firm that is on the conveyancing panel for your lender.
When does exchange of contracts take place for domestic conveyancing in Mynydd Isa and do I need to be at the lawyers office?
Where you are local to our conveyancing solicitors in Mynydd Isa you are welcome to come in to sign contracts. However, the lender approved solicitors we recommend supply a national conveyancing service and provide as equally diligent and professional a job for you when dealing with you by post or email. The executing of the property agreement is not the point of no return. A signed contract is just a prerequisite for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Mynydd Isa)to be in the office available at the end of the phone to exchange contracts.
We previously appointed conveyancing lawyers based in Mynydd Isa on the Yorkshire BS solicitor panel. They have just billed me a separate charge for the legal aspects of the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer may levy a fee for this. This charge is not set by Yorkshire BS but by your Mynydd Isa lawyer. Numerous firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee but some practices include it on their overall fee.
We were going to get a AIP from RBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Mynydd Isa solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mynydd Isa solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I have paid off my mortgage with Principality. I assume I don't need a Mynydd Isa property lawyer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am purchasing a new build house in Mynydd Isa with a loan from TSB. The sellers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not to tell my conveyancer about the deal as it could jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a property in Mynydd Isa ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some banks may not grant a mortgage on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you contact us we can investigate further via 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 Mynydd Isa. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mynydd Isa to see if the conveyancing will be more expensive.