The owners of the property we are purchasing have appointed a conveyancing practitioner in Rhiwbina who has insisted on a exclusivity contract with a down payment 10k. Is it wise to enter into such agreements?
Lock out contracts are contracts binding a home vendor and purchaser granting the buyer exclusive rights to the sale of the property within a prescribed time frame. For all intents and purposes, an exclusivity is a document specifying that you should receive a contract at a later date which is the main conveyancing contract. It is generally used for buyer protection though in many situations, the vendor may stand to benefit from such agreements as well. There are various pros and cons to having them but you need to check with your lawyer but note that it may end up costing you more in conveyancing fees. For these reasons these agreements are unusual when it comes to conveyancing in Rhiwbina.
I currently have a mortgage with Skipton for my property in Rhiwbina. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval prior to letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies 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 Skipton directly. You need not do this via a Skipton conveyancing panel firm.
Intending to buy a house in Rhiwbina. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rhiwbina conveyancer is on the TSB conveyancing panel.
RBS have agreed my mortgage in principle, my bid on a property in Rhiwbina has been agreed to, what happens next?
Your estate agent will want to be advised as to your conveyancer's details (ensure that the solicitors are on the lender’s approved list). Contact RBS or your financial adviser and finish off any appropriate forms. RBS will instruct a valuer who will get in touch with the estate agent or owners to book an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. RBS will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Rhiwbina.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Rhiwbina is the location of the property. Can you offer any guidance?
Flying freeholds in Rhiwbina are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rhiwbina you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rhiwbina may ascertain 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.
Am I right to be suspicious by 3rd parties that I am dealing with are suggesting a national conveyancing firm as opposed to a local Rhiwbina conveyancing company?
As with many service providers, often input from connections can be extremely useful or valuable. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and banks may suggest lawyers to select. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You have the right to choose your preferred lawyer. Don't forget that many lenders specify a panel list of conveyancers you are obliged to use for the mortgage aspect of your house move.
As co-executor for the will of my grandmother I am disposing of a house in Monmouth but reside in Rhiwbina. My lawyer (approximately 235 miles from meneeds me to sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Rhiwbina who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Rhiwbina