Much to our surprise we have been advised by our mortgage adviser that my Vale Of Glamorgan solicitor is not on the lender Solicitor panel. How can I be sure whether this is correct?
Your first step should be to call your Vale Of Glamorgan conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
The Vale Of Glamorgan conveyancing lawyers that I recently instructed on my house acquisition in Vale Of Glamorgan have without warning closed. They were on acting for me because I needed a lawyer on the Yorkshire BS conveyancing panel and my previous Vale Of Glamorgan lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
A relative recommended that where I am purchasing in Vale Of Glamorgan I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Vale Of Glamorgan conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Vale Of Glamorgan around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Vale Of Glamorgan Education with maps and statistics, Local Amenities and other useful information about Vale Of Glamorgan.
I'm buying a new build house in Vale Of Glamorgan with a loan from Godiva Mortgages Ltd. The sellers refused to move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not inform my conveyancer about the deal as it may jeopardize 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Vale Of Glamorgan is the location of the property. Is there any advice you can impart?
Flying freeholds in Vale Of Glamorgan are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Vale Of Glamorgan you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Vale Of Glamorgan may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.