It is is a decade since I acquired my house in Burry Port. Conveyancing lawyers have recently been retained on the sale but I can't find my title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be with the mortgage company or they may be in the possession of the lawyers who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Burry Port involves registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
My lawyer has informed me that lack of planning permission insurance is needed on my purchase. What is the level of cover for Burry Port conveyancing?
The right level of lack of planning permission indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
We have agreed to purchase a house in Burry Port. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender HSBC be concerned?
Given that your lender is HSBC your lawyer must check the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and solicitors are required to report to HSBC where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties nationwide and is not limited to Burry Port.
Virgin Money have agreed my mortgage in principle, my offer on a apartment in Burry Port has been agreed to, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Contact Virgin Money or the financial adviser and finalise any relevant paperwork. Virgin Money will sellect a valuer who will get in contact with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Virgin Money will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Burry Port.
How does conveyancing in Burry Port differ for newly converted properties?
Most buyers of new build premises in Burry Port come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Burry Port typically purchase 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 Burry Port or who has acted in the same development.
I decided to have a survey done on a house in Burry Port before retaining solicitors. I have been told that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may not issue a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Burry Port. Conveyancing will be smoother if you use a solicitor in Burry Port especially if they are accustomed to such properties in Burry Port.
Am I best advised to choose a Burry Port conveyancing practitioner who is local to the property I am buying? An old friend can execute the legal work however her office is approximately 350miles drive away.
The benefit of a local Burry Port conveyancing practice is that you can attend the office to execute paperwork, deliver your identification documents and pester them if necessary. Having local Burry Port know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were happy that should surpass using an unfamiliar Burry Port conveyancing solicitor just because they are Burry Port based.