My lawyer has identified a defect with the lease for the flat we are purchasing in Porthmadog. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the bank is content with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions have to be complied with.
I am currently in the process of buying my council flat in Porthmadog. I have a mortgage offer with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being a right pain. The Porthmadog solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
HSBC have agreed my mortgage in principle, my offer on a apartment in Porthmadog has been accepted, now what?
Your estate agent will need to be informed of your solicitor's details (ensure that the property lawyers are on the bank’s approved list). Call up HSBC or the financial adviser and complete any outstanding documentation. HSBC will appoint a valuer who will get in contact with the estate agent or vendor to book a time for the valuation to occur. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. HSBC will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Porthmadog.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Porthmadog?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Porthmadog. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Hoping to buy a property located in Porthmadog and I am already nervous. I couldn't find anything specific about Porthmadog. Conveyancing will be needed in due course but do you know about the Porthmadog area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Porthmadog. In the meantime here are some basic statistics that we found
I need to instruct a conveyancing solicitor for some conveyancing in Porthmadog. I happened to land on a site which looks to be the perfect offering If there is a chance to get all formalities done via phone that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?