We are getting a further advance on our mortgage from Kent Reliance as we wish to carry out alterations to our home in Powys. Do we need to select a nearby Powys solicitor on the Kent Reliance conveyancing panel to deal with the paperwork?
Kent Reliance don't usually instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance panel.
We have agreed to purchase a house in Powys. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
Given that you are obtaining a mortgage with Leeds Building Society your lawyer must follow the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook contains minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Leeds Building Society where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Powys.
I have a mortgage with Bank of Ireland for my property in Powys. Conveyancing has been completed months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval prior to renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel firm.
How does conveyancing in Powys differ for new build properties?
Most buyers of new build property in Powys come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Powys usually 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 accustomed to new build conveyancing in Powys or who has acted in the same development.
I am looking for a ground for flat up to £195,000 and identified one near me in Powys I like with amenity areas and railway links nearby, however it only has 49 remaining years left on the lease. There is not much else in Powys in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years may be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I need to instruct a conveyancing solicitor for freehold conveyancing in Powys. I have land on a site which looks to be the perfect answer If it is possible to get all the legals done via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What can I do to discover who is the owner of a house in Powys?
On the basis that the premises is registered with HM Land Registry, and you have requisite information of the location of the property, you should be able to see details from the the Land Registry of the recorded owner for a fee.