I sincerely hope you can assist me. My Penylan solicitor is advising me that he is legally obliged toconduct Penylan conveyancing searches asthe firm are on the Santandersolicitor panel. Is my conveyancer correct?
You have limited options available to you. As you are obtaining a mortgage with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Penylan conveyancing searches.
When it comes to lenders such as Coventry BS, do Penylan solicitors incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I currently have a mortgage with Coventry BS for my property in Penylan. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel lawyer.
Principality have agreed my mortgage in principle, my bid on a apartment in Penylan has been accepted, now what?
Your property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Telephone Principality or the broker and complete any relevant paperwork. Principality will sellect a valuer who will get in contact with the estate agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. Principality will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Penylan.
About to purchase a new build flat in Penylan. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Penylan
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Penylan is the location of the property. Is there any advice you can give?
Flying freeholds in Penylan are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penylan you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penylan may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What can I do where I am unhappy with the solicitor who undertook our conveyancing in Penylan?
We live in an imperfect world, and is is a fact of life that sometimes things do go wrong. However there is recourse where you were not happy with your conveyancing in Penylan. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their governing body. If you remain dissatisfied you may consider enlisting the help of the Legal Ombudsman.