Is there a reason to appoint a Torfaen conveyancing solicitors firm given that national alternatives are less overpriced?
To take your time to find contrast conveyancing costs in Torfaen and you should seek a reasonable quote but don’t be focused with hunting for the lowest priced Torfaen conveyancer. Finding the right conveyancer can be the difference between a smooth and a distressing house move. You need to ensure that you have expert guidance from an experienced conveyancer. An e-mail can never replace a phone discussion and are no substitute for a face to face meeting. The firms that we work with will allocate you a qualified and trusted conveyancing solicitor who can handle your conveyancing from beginning to end, providing a level of personalised service that you are unlikely to received from an online conveyancer. Our lawyers will keep you updated on progress and keep you informed. If you ever need to phone the office you will be sure who to ask for and we'll ensure you are kept fully informed.
I am the registered owner of a freehold house in Torfaen yet invoiced for rent, why is this and what is this?
It is rare for properties in Torfaen and has limited impact for conveyancing in Torfaen but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Torfaen with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What is your number one tip for finding a conveyancing solicitor in Torfaen
It would be unwise to be tempted by the lowest Torfaen conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. 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 know exactly what you’ll have to pay in ahead of time.
When it comes to lenders such as Kent Reliance, do Torfaen lawyers face a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Torfaen building society branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Torfaen conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I decided to have a survey completed on a property in Torfaen ahead of retaining lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders may refuse to give a mortgage on such a property.
It varies from the lender to lender. Santander has different requirements from Halifax. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Torfaen. Conveyancing may be slightly more expensive based on your lender's requirements.