I am purchasing a property in Merthyr Tydfil. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that you are obtaining a mortgage with Santander your lawyer must follow the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not meet these specifications. The specifications relate to the installation of panels on properties countrywide and is not restricted to Merthyr Tydfil.
Intending to buy a maisonette in Merthyr Tydfil. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Merthyr Tydfil lawyer is on the UBS conveyancing panel.
Our offer on a semi in Merthyr Tydfil has been agreed to, the sellers do nevertheless have an associated purchase. The owners have put an offer on a property, however it’s not yet agreed to, and are looking at other properties booked. I have chosen a nearby conveyancing solicitor in Merthyr Tydfil. What should be my next step? At what point should I apply for the mortgage with Nottingham?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Merthyr Tydfil conveyancing search charges, etc). First, you must ensure that your solicitor is on the Nottingham conveyancing panel. Regarding the next stages this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market many buyers will apply for a home loan with Nottingham and pay for the valuation and only if it comes back ok would they request their property lawyer to proceed with the conveyancing in Merthyr Tydfil.
We are planning on selling our house in Merthyr Tydfil and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any high street Merthyr Tydfil conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a national conveyancing practice as opposed to a conveyancing solicitor in Merthyr Tydfil. We have lived in Merthyr Tydfil for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My father has suggested that I appoint his conveyancers in Merthyr Tydfil. Should I choose my own property lawyer?
Much as we are happy to recommend a Merthyr Tydfil conveyancing lawyer the best way to choose a conveyancing practitioner is to seek guidance from friends or family who have experience in using the solicitor that you are considering.
What makes a Merthyr Tydfil lease defective?
Leasehold conveyancing in Merthyr Tydfil is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the property A duty to insure the building
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I bought a 1 bedroom flat in Merthyr Tydfil, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Merthyr Tydfil with an extended lease are worth £181,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2074
You have 50 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
I'm purchasing a property in Merthyr Tydfil. I can find my conveyancer's company on the CLC list, but I can't find my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. As long there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unqualified staff.