Am I correct in assuming that the fact that my conveyancer in Barmouth is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 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. Should you be concerned you should contact the Barmouth conveyancing practice and enquire why they are no longer on the approved list for your lender.
My wife and I are getting closer to an exchange on a house in Barmouth and my parents have transferred the ten percent deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
Your property lawyer is duty bound to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
It is is a decade since I purchased my property in Barmouth. Conveyancing solicitors have recently been appointed on the sale but I am unable to find the title deeds. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be retained by the lender or they may be in the possession of the conveyancers who acted in the purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Barmouth relates to registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
Do commercial conveyancing searches disclose proposed roadworks that could affect a commercial premises in Barmouth?
Many commercial conveyancing solicitors in Barmouth will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Barmouth. The report provides definitive information 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 Barmouth.
For every commercial conveyancing transaction in Barmouth it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Barmouth commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Barmouth.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The lawyers who dealt with the conveyancing in Barmouth 10 years ago are no longer around. What are my options?
You no longer need to have the physical deeds to establish that you own the land or premises, given that the Land Registry have everything they need in a digital format.
I've recently bought a leasehold flat in Barmouth. Am I liable to pay service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 invested in buying a studio flat in Barmouth, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Barmouth with a long lease are worth £195,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2087
With only 63 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as 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. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.