Why do I have to pay up front when it comes to conveyancing in Tremeirchion?
Where you are retaining lawyers for conveyancing in Tremeirchion your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is requested to cover the fees of the conveyancing searches. If any deposit is payable against the total price then this should be needed immediately before exchange of contracts. The final balance that is needed should be transferred shortly before completion.
A colleague informed me that in buying a property in Tremeirchion there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Tremeirchion which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Tremeirchion should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Tremeirchion solicitor practices on the HSBC conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the HSBC approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the Council of Licensed Conveyancers.
The mortgage over my property is with Leeds Building Society for my property in Tremeirchion. Conveyancing was finalised 12 months ago. If I am intending 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 Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval prior to renting your property as this is likely to be a breach of Leeds Building Society’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 Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel lawyer.
I have todaybeen informed that Stirling Law have closed. They carried out my conveyancing in Tremeirchion for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tremeirchion conveyancing specialists.
How does conveyancing in Tremeirchion differ for new build properties?
Most buyers of new build or newly converted property in Tremeirchion contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Tremeirchion usually acquire the real estate, 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 Tremeirchion or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Tremeirchion before appointing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks will not issue a mortgage on such a home.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tremeirchion. Conveyancing may be slightly more expensive based on your lender's requirements.