We have rather pushy vendors who has insisted on a preliminary contract with a deposit 10k. Are such arrangements promoted for Neath Port Talbot conveyancing transactions?
This kind of preliminary agreement is unusual in Neath Port Talbot, conveyancers are often inclined to veer clients away from them as they detract from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the seller has executed a lock out contract they will sell to you. They may breach the agreement if they are offered a large enough financial inducement to do so because an aggrieved purchaser with the benefit of a lockout agreement will still be obliged establish consequential losses from the breach and this may not equate the financial upside that your vendor may secure by reneging on the agreement, however morally shameful the behaviour is.
I am the only beneficiary of my late father’s will with all property in now in my sole name, including the house in Neath Port Talbot. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I understand that there is a CML six month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view banks take of it, depend on the lender as this obligation is chiefly there to pick up on the purchase and immediately sell or the flipping of property.
I have paid off my mortgage with Coventry BS. I assume I don't need a Neath Port Talbot lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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 Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
After much negotiation I have agreed a price on an apartment in Neath Port Talbot. My mortgage broker pressured me to appoint their lawyer. I paid an advanced payment of £200. A few days later, the lawyer called me to say that they were not on the TSB 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 TSB 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.
Will my lawyer be raising enquiries regarding flooding as part of the conveyancing in Neath Port Talbot.
Flooding is a growing risk for solicitors carrying out conveyancing in Neath Port Talbot. There are those who buy a property in Neath Port Talbot, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in Neath Port Talbot. The conventional set of information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to determine whether the premises has suffered from flooding. In the event that the property has been flooded in past and is not revealed by the seller, then a buyer may commence a claim for damages resulting from an incorrect reply. The purchaser’s lawyers should also carry out an enviro search. This will indicate if there is any known flood risk. If so, further investigations should be initiated.
I'm purchasing a new build house in Neath Port Talbot with a loan from Chelsea Building Society. The builders refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not inform my conveyancer about the side-deal as it would jeopardize my loan with Chelsea Building Society. 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.
Been looking for a conveyancer for freehold sale conveyancing in Neath Port Talbot. I'm selling, uncomplicated no mortgage to redeem, no hurry, currently vacant. Got a quote from a conveyancer for £900 including VAT which is a little steep given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Neath Port Talbot?
Considering it’s a sale only, 475 + VAT should be about the lowest for a Neath Port Talbot solicitor firm.