I am purchasing a property in Ogmore Vale. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As your lender is Nationwide your lawyer must follow the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook includes minimum specifications for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease does not satisfy these requirements. The specifications relate to the installation of panels on properties countrywide and is not isolated to Ogmore Vale.
I have paid off my mortgage with Clydesdale. I assume I don't need a Ogmore Vale conveyancer on the Clydesdale panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale 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 Clydesdale mortgage from the register. Clydesdale, 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 Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
It is not clear whether my bank requires a lease extension. I have called into my local Ogmore Vale building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Ogmore Vale conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their specific requirements. I have no idea who is right.
The conveyancer must follow the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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.
What does a local search reveal about the house my wife and I purchasing in Ogmore Vale?
Ogmore Vale conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Xpress Legal The local search plays an important role in many a Ogmore Vale conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
How does conveyancing in Ogmore Vale differ for newly converted properties?
Most buyers of new build or newly converted property in Ogmore Vale come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Ogmore Vale tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ogmore Vale or who has acted in the same development.
As co-executor for the will of my grandfather I am selling a residence in Swansea but I am based in Ogmore Vale. My solicitor (who is 260 miles from mehas requested that I execute a stat dec ahead of completion. Can you recommend a conveyancing practitioner in Ogmore Vale who can witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are based in Ogmore Vale
What advice can you give us when it comes to finding a Ogmore Vale conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Ogmore Vale conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Ogmore Vale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
If they are not ALEP accredited then why not? How many lease extensions has the firm carried out in Ogmore Vale in the last twenty four months?
Ogmore Vale Leasehold Conveyancing - Sample of Queries Prior to buying
Where a Ogmore Vale lease has less than 80 years it will impact the salability of the property. Check with your lender that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely require a lease extension at some point and it is worth finding out what this would cost. Remember, in most cases you would need to own the premises for 24 months in order to be legally able to extend the lease. On the whole the outlay for major works are not incorporated into the maintenance charges, although there some managing agents in Ogmore Vale obliged tenants to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. This question is important as a) areas may cause problems for the block as the communal areas may begin to deteriorate if services are not paid for b) if the tenants have a dispute with the managing agents you will wish to have complete disclosure