Is the fact that my conveyancer in Usk is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Usk conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Usk. The Usk property was put into my name in April. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the house in April. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the bank as this provision principally exists to pick up on subsales or the wholesaling and assigning of property.
We had instructed solicitors located in Usk on the Coventry BS solicitor approved list. They are now charging me a further charge for the legal aspects of the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. The fee is not dictated by Coventry BS but by your Usk solicitor. Numerous firms on the Coventry BS panel will charge an ‘acting for lender’ fee and others do not.
The formalities of my purchase has taken place for my property in Usk. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Should my lawyer be asking questions regarding flooding as part of the conveyancing in Usk.
The risk of flooding is if increasing concern for lawyers dealing with homes in Usk. Some people will buy a house in Usk, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a various checks that may be undertaken by the buyer or by their solicitors which will give them a better appreciation of the risks in Usk. The standard information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine whether the premises has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the owner, then a buyer may issue a claim for damages as a result of such an inaccurate reply. The purchaser’s conveyancers should also order an enviro search. This should higlight if there is any known flood risk. If so, further investigations should be conducted.
I am buying a new build flat in Usk. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Usk
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Given that I am about to part with over three hundred thousand on a two bedroom apartment in Usk I wish to talk to a lawyer about myhome move prior to giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your conveyancing in Usk.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Usk should be the amount on the final invoice that you are charged.
Last November I purchased a leasehold flat in Usk. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a leasehold flat in Usk, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Usk with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2094
You have 70 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed 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 taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.