Much to our surprise we have been notified by our financial adviser that my Pencader property lawyer is not on the lender Conveyancing panel. How can I be certain whether this is indeed the case?
The sensible course of action for you to take is to contact your Pencader lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
After looking at mumsnet.com for a cheap lawyer in Pencader, most say that I must use a CQS assured lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Society for Licensed Conveyancers. Pencader is one of the many areas in England and Wales where there are Accredited lawyers.
The deeds to my home are lost. The lawyers who conducted the conveyancing in Pencader 4 years ago no longer exist. What do I do?
As long as the title is registered the details of your ownership will be documented by HMLR with a Title Number. It is possible to carry out a search at the Land Registry, find your property and secure up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
I'm purchasing my first flat in Pencader with a loan from Barclays Direct. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it could adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a flat up to £305k and found one close by in Pencader I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Pencader suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.