My wife and I are purchasing a property in Pontypool. It might be a silly question but how we can trust a solicitor? On completion day we will need to put funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
After weeks of negotiation I have agreed a price on an apartment in Pontypool. My financial adviser suggested a solicitor. I paid an upfront payment of £175. Soon after, the property lawyer contacted me embarrassingly acknowledging that they were not on the Leeds Building Society 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 Leeds Building Society 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.
My offer was accepted on a property in Pontypool on 25/2/2019, valuation was booked 3 days later, received a clean bill of health. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
My colleague recommended that if I am buying in Pontypool I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Pontypool conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Pontypool around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Pontypool Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Pontypool Education with maps and statistics, Local Amenities and other useful data about Pontypool.
I am purchasing my first flat in Pontypool with the aid of help to buy. The sellers would not reduce the price so I negotiated 6k of additionals instead. The estate agent told me not to tell my solicitor about the side-deal as it may affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Pontypool I like with a park and railway links nearby, however it's only got 49 years on the lease. I can't really find anything else in Pontypool in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
My husband and I are first time buyers - agreed a price, but the property agent informed us that the seller will only go ahead if we instruct their preferred solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Pontypool
It is highly unlikely the owners are behind this. Should the vendor want ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Speak to the owners direct and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to appoint your preferred Pontypool conveyancing lawyers - rather thanthe ones that will give the estate agent a commission or hit his conveyancing figures set by senior management.