My mortgage company has recommended a law firm on their panel based in Powys but I would rather instruct a conveyancing lawyer in Powys round the corner to me. Are you able to help?
The minority of Powys conveyancing solicitors are listed all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to locate a Powys conveyancing conveyancer on the on the mortgage company panel.
Me and my partner are buying a apartment in Powys. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send our life savings into their account. What is the protection 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.
I happen to be the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Powys. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be considered the same way as though I had purchased the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges 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 might be caught by that. How practical a view lenders take of it, depend on the bank as this clause is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
I have paid off my mortgage with Nottingham. I assume I don't need a Powys lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I'm purchasing my first flat in Powys with a mortgage from National Westminster Bank. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my lawyer about this side-deal as it could put at risk 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Powys is where the house is located. What do you suggest?
Flying freeholds in Powys are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Powys you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Powys may decide 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 premises.
Should I use a Powys conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can handle the conveyancing but his firm is located over three hundred miles away.
The primary upside of using a local Powys conveyancing firm is that you can pop in to sign documents, deliver your ID and pester them where appropriate. Having local Powys know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were happy that should surpass using an unfamiliar Powys conveyancing solicitor just because they are local.