The Torfaen conveyancing firm handling our Torfaen conveyancing has spotted a difference when comparing the information in the valuation report and what is revealed within the conveyancing documents. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My property lawyer in Torfaen is not on the Santander Conveyancing Panel. Is it possible for me to continue with my family solicitor even though they are not on the Santander panel?
The limited options available to you here include:
- Carry on with your preferred Torfaen solicitors but Santander will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total conveyancing charges as well as result in delays.
- Find an alternative solicitor to act in the conveyancing, obviously checking they are Santander approved.
- Persuade your Santander based solicitor to attempt to join the Santander panel
Me and my brother own a 4 bedroom Edwardian house in Torfaen. Conveyancing lawyer represented me and Barclays . I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Torfaen and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the work.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Torfaen is where the house is located. Is there any guidance you can give?
Flying freeholds in Torfaen are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Torfaen you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Torfaen may determine 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.
I am looking into buying my first house which is in Torfaen and I am already nervous. I couldn't find anything specific about Torfaen. Conveyancing will be needed in due course but do you know about the Torfaen area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Torfaen. In the meantime here are some basic statistics that we found