My husband and I are hoping to purchase a home in Aberdovey and have appointed a Aberdovey conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this afternoon contacted us to advise us that there is now an issue as our Aberdovey lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Aberdovey solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Can the conveyancing lawyers that you recommend execute conveyancing in Aberdovey by way of an attended exchange?
We do have a number of conveyancing experts carrying out 24hr exchanges. Please contact us to secure a conveyancing quote and details as to availability.
Are the BSA planning on creating a search tool with a view to to identify practices on the Earl Shilton BS conveyancing panel for example in Aberdovey?
We are not aware of any plans on the part of the BSA to promote such a register.
Just had an offer accepted on a new build apartment in Aberdovey. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Aberdovey
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants.
What tools are available to identify a Aberdovey solicitor on the Norwich and Peterborough Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 10kilometers to meet the solicitor.
You can use the tool on this website. Please choose the lender and your location and you will see a number of Aberdovey conveyancing lawyers based on proximity. We have detailed some Aberdovey conveyancing firms at the bottom of this page and you can call them to check whether they are on the Norwich and Peterborough Building Society panel
Estate agents have just been given the go-ahead to market my garden apartment in Aberdovey. Conveyancing has not commenced, however I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual as all rents and service charges should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a basement flat in Aberdovey, conveyancing having been completed 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Aberdovey with over 90 years remaining are worth £185,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2085
With 61 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 as well as legals.
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 in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.