It is not clear whether my lender requires a lease extension. I have called into my local Nantyglo bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Nantyglo conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The conveyancing practitioner must comply with the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase maisonette in Nantyglo. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Nantyglo conveyancer is on the Clydesdale conveyancing panel.
After shopping around on the internet I have found a Nantyglo lawyer having made sure that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Nantyglo surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My friend recommended that where I am buying in Nantyglo I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Nantyglo conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Nantyglo 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 demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Nantyglo.
I am buying a new build flat in Nantyglo. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Nantyglo
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
What makes a Nantyglo lease unmortgageable?
Leasehold conveyancing in Nantyglo is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
Service charge per centages that don't add up correctly leaving a shortfall Repairing obligations to or maintain elements of the premises
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
Nantyglo Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
Who manages the block? Be sure to investigate if there are any onerous prohibitions in the lease. For example it is fairly common in Nantyglo leases that pets are not permitted in in a block in Nantyglo. If you love the propertyin Nantyglo however your cat can’t live with you then you will be presented with a difficult determination. Best to be warned if fixing the lift or some other major work is due in the near future that will be shared amongst the tenants and will materially increase the the maintenance costs or result in a specific payment.
Is planning consent necessary to split a house into two flats in Nantyglo? This has occurred to a house next door to my house in Nantyglo and was ignorant of it happening until it was complete.
Planning Permission yes. Building Regulations yes.