Please help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the level of cover for Margam conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Barnsley Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
Are all Margam Conveyancing Quality Solicitors on the TSB conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
We have agreed to purchase a house in Margam. One unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Virgin Money your lawyer must follow the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Margam.
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial estate in Margam?
Many commercial conveyancing solicitors in Margam will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Margam. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Margam.
For every commercial conveyancing transaction in Margam it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Margam commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Margam.
Due to the guidance of my in-laws I had a survey completed on a house in Margam prior to appointing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Margam. Conveyancing will be smoother if you use a solicitor in Margam especially if they regularly deal with such properties in Margam.
I have been pointed in your direction by a number of property agents in Margam to find a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to promote your services rather than another?
We don’t make any commission for sending work our way. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
There are plenty of properties in Margam on private lanes. We are acquiring one such house. Are there any benefits to purchasing a property on a private road?
Margam conveyancing solicitors will be familiar with dealing homeson unadopted roads. Your property lawyer should investigate Land Registry data to identify any rights or liabilities. It is possible that there is a management company (wholly owned by residents) that proprietors make annual contributions for the upkeep of the road. Where one exists, the road should be maintained and look nicer than council owned.