Is the fact that my solicitor in Bagillt is not identified on my mortgage company's solicitor panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Bagillt conveyancing practice and enquire why they are no longer on the approved list for your bank.
Do the conveyancing solicitors identified via your search tool perform conveyancing in Bagillt by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct attended exchanges. Please e-mail us to obtain a conveyancing quote and details as to dates.
I'm the only beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Bagillt. The Bagillt property was put into my name in June. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the house in June. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this obligation is principally there to identify subsales or the wholesaling and assigning of properties.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Bagillt solicitor on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
It is not clear whether my bank requires a lease extension. I have telephoned my Bagillt bank branch on numerous occasions and was told it wasn't an issue and they would lend. My Bagillt conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
It has been five months since my purchase conveyancing in Bagillt concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Do you have any top tips for leasehold conveyancing in Bagillt from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Bagillt can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers’ representatives. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved. If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate is often a lengthy process and delays many a Bagillt home move. If a duplicate share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible. Many freeholders or Management Companies in Bagillt charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Bagillt.
I inherited a leasehold flat in Bagillt, conveyancing was carried out in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Bagillt with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2092
With 67 years unexpired the likely cost is going to be between £10,500 and £12,000 plus costs.
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 comprehensive investigations. You should 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. Neither should you move forward based on this information before seeking the advice of a professional.
How does one remove a deceased person's name from the title deeds for a house in Bagillt?
Where a Bagillt property is co-owned and one of the owners passes away, the name will not immediately be removed from the title deeds. It is not necessary to amend the title as when it comes to a sale you would simply need to supply proof why the co owner is missing from the conveyance, normally this is in the form of the probate documents.
With a view to making things smoother for the sale of the property you may apply to have the deceased name erased from the title by applying to HM Land Registry with proof of the death. There is no land registry fee payable.