Me and my wife are acquiring an apartment in Gorseinon. My lawyer is not on the lender approved list. Is it possible for me to continue with my Gorseinon conveyancing solicitor notwithstanding that they are excluded from the mortgage company list of approved lawyers?
Your options include
- Proceed with your existing Gorseinon conveyancer but your lender will no doubt use a property lawyer from their conveyancing panel. This will result in additional cost together with likely frustration.
- Appoint a new solicitor to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your lawyer to do everything within their powers to get listed on the bank’s conveyancing panel
We see that you have a post code search directory identifying law firms on the Yorkshire BS conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Gorseinon?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Gorseinon.
We're in Gorseinon, First timers buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Gorseinon is where the house is located. Can you shed any light on this issue?
Flying freeholds in Gorseinon are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Gorseinon you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gorseinon may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
All being well we will complete the disposal of our £200,000 flat in Gorseinon next Monday. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Gorseinon?
Gorseinon conveyancing on leasehold apartments usually involves the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I inherited a basement flat in Gorseinon, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Gorseinon with an extended lease are worth £192,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2079
With 54 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Do lenders provide you with an approved list of Gorseinon solicitors? How do you know who is on the lender conveyancing panel?
Gorseinon law firm practices and firms conducting conveyancing in Gorseinon themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.