I opted for a high street lawyer for our conveyancing in Clydach last week. Upon checking the Terms it is apparent thatwe are liable for fees even where the transaction does not complete. Would I be best advised to choose a web based solicitor practice promising no move no charge conveyancing in Clydach?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the fee levels will tend to be be more expensive to offset those conveyances that abort. Please beware that these offerings generally do not protect you from expenses for example Clydach conveyancing search costs.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Skipton Conveyancing panel ahead of completing my conveyancing in Clydach?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
This question may be naive but I am unexperienced as FTB of a two bedroom flat in Clydach. Do I receive the keys to the house on the completion date from my lawyer? If so, I will find a High Street conveyancing solicitor in Clydach?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s lawyers, and once they have received this, you should be invited to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
Is it the case that all Clydach CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
Some major lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives 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 solicitor practices wishing to join their panels.
We are getting a further advance on our home loan from RBS as we wish to conduct alterations to our property in Clydach. Are we obliged to select a high street Clydach solicitor on the RBS conveyancing panel to deal with the paperwork?
RBS do not ordinarily instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Clydach I like with open areas and railway links in the vicinity, however it's only got 51 years on the lease. There is not much else in Clydach suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Do I need to be suspicious about estate agents that I am dealing with are encouraging me to use a web based conveyancing firm rather than a High Street Clydach conveyancing company?
As with lots of professional services, often referrals from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest conveyancers to retain. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are at liberty to select your preferred conveyancer. However, bear in mind that some banks have an approved list of law firms you must use for the lender aspect of your conveyancing.
Last January I purchased a leasehold flat in Clydach. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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 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 own a 2 bed flat in Clydach, conveyancing having been completed October 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Clydach with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2088
With only 63 years remaining on your lease we estimate the premium for your lease extension to range between £16,200 and £18,600 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. 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.