Am I correct in assuming that the fact that my solicitor in Dolgellau is not on my mortgage company's solicitor 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 plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 Dolgellau conveyancing practice and ask them why they are no longer on the approved list for your lender.
My wife and I are getting closer to an exchange on a property in Dolgellau and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your solicitor is duty bound to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
It is a dozen years since I purchased my home in Dolgellau. Conveyancing lawyers have recently been appointed on the sale but I can't locate my deeds. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the lender or they could be in the possession of the lawyers who acted in the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Nearly all conveyancing in Dolgellau involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
Will our conveyancer be making enquiries about flooding during the conveyancing in Dolgellau.
Flooding is a growing risk for lawyers dealing with homes in Dolgellau. There are those who acquire a house in Dolgellau, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous checks that may be carried out by the buyer or by their lawyers which should figure out the risks in Dolgellau. The conventional set of property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to find out whether the property has historically flooded. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a purchaser could issue a legal claim for losses stemming from an incorrect response. The buyer’s lawyers will also order an environmental report. This will disclose if there is a recorded flood risk. If so, additional investigations should be carried out.
I bought my apartment on 16 February and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Dolgellau advises it would be registered in a couple of weeks. Are properties in Dolgellau uniquely lengthy to register?
As far as conveyancing in Dolgellau is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any other parties. At present approximately three quarters of submission are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration takes place after the buyer is living at the premises thus post completion formalities is not always an essential issue but where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I've recently bought a leasehold flat in Dolgellau. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner 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. It is an essential part 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).
Dolgellau Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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You should be aware if it is no more than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your lender that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Dolgellaulease extensions you would need to own the property for 24 months before you are eligible to extend the lease. The prefered form of lease arrangement is if the freehold title is owned by the leaseholders. In this scenario the tenants enjoy control and although a managing agent is frequently employed where the building is larger than a house conversion, the managing agent employed by the leaseholders.