Is there a reason why leasehold purchase conveyancing in Hay On Wye is more expensive?

In short, leasehold conveyancing in Hay On Wye and elsewhere usually necessitates more hours of investigation compared to freehold conveyancing. This includes checking the lease terms, communicating with the landlord about the service of applicable notices, obtaining current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.

Please help - my lawyer advises that absentee landlord insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Hay On Wye?

The appropriate level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.

I have paid off my mortgage with Skipton. I assume I don't need a Hay On Wye conveyancing practitioner on the Skipton panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Skipton 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 Skipton mortgage from the register. Skipton, 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:

1. but are not moving to another property
2. where Skipton has sent the Land Registry the discharge electronically, and
3. Skipton has instructed the Land Registry to do so

At last I have had an offer on a flat in Hay On Wye agreed to, but there is a chain. The vendors have offered on a property, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a local conveyancing solicitor in Hay On Wye. What do I do now? When do I get the mortgage application with Barclays going?

It is normal to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then survey, Hay On Wye conveyancing search fees, etc). First, you must check that your lawyer is on the Barclays approved list. Concerning the next phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a hot market many purchasers would apply for a home loan with Barclays and arrange for the valuation and only if it was satisfactory would they request their lawyer to proceed with the conveyancing in Hay On Wye.

What does a local search reveal about the property I am buying in Hay On Wye?

Hay On Wye conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search is essential in every Hay On Wye conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search will supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.

I am buying a new build house in Hay On Wye with a mortgage from Chelsea Building Society. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not to tell my conveyancer about this extras as it may impact my mortgage with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the advice of my in-laws I had a survey completed on a house in Hay On Wye before retaining conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some lenders will refuse to give a loan on a flying freehold home.

It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you e-mail us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hay On Wye. Conveyancing will be smoother if you use a solicitor in Hay On Wye especially if they are familiar with such properties in Hay On Wye.