Are the BSA intent on creating a searchable register to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in Tonteg?
We would not expect to be advised of any plans on the part of the BSA to promote such a search facility.
There are numerous conveyancing solicitors in Tonteg but how do I know who's good?
It would be unwise to be tempted by the cheapest Tonteg conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have paid off my mortgage with Virgin Money. I assume I don't need a Tonteg property lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I have a mortgage with Yorkshire BS for my property in Tonteg. Conveyancing was finalised 12 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 BTL mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval before letting out your property as this is likely to be a breach of Yorkshire BS’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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
How does conveyancing in Tonteg differ for newly converted properties?
Most buyers of new build property in Tonteg approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Tonteg tend to buy the site, 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 Tonteg or who has acted in the same development.
I decided to have a survey carried out on a house in Tonteg before retaining lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to grant a mortgage on such a property.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tonteg. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm converting the mortgage on my primary house to a BTL mortgage with The Mortgage Works and intend to use the remaining equity as a down payment on further property. The area we are interested in is Tonteg. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our search tool on this page to be sure that the conveyancers are on the relevant lender panels. Having checked that they are your lawyer will be able to connect the two transactions but you should talk with you solicitor and specify your expectations and needs.