My partner and I are looking to buy a flat in Hengoed and have instructed a Hengoed conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Leeds Building Society have this evening contacted us to advise us that there is now an issue as our Hengoed solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Hengoed solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Last November we completed a house move in Hengoed. We have noticed several issues with the property which we consider were missed in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been ordered as part of conveyancing in Hengoed?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Hengoed. Conveyancing searches and investigations initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor answers a document called a SPIF. answers ends up being misleading, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Hengoed.
This question may be naive but I am unexperienced as a 1st time buyer of a ground floor flat in Hengoed. Do I collect the keys to the property on completion from my solicitor? If so, I will appoint a High Street conveyancing solicitor in Hengoed?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the owner’s conveyancers, and once they have received this, you should be called to collect the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
I am buying a property in Hengoed. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
As you are obtaining a mortgage with Lloyds your lawyer must check the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Lloyds where a lease fails to comply with these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Hengoed.
Nottingham have agreed my mortgage in principle, my bid on a apartment in Hengoed has been accepted, what happens next?
The property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Telephone Nottingham or your financial adviser and complete any appropriate paperwork. Nottingham will sellect a valuer who will get in contact with the estate agent or seller to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Nottingham will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hengoed.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial property in Hengoed?
Many commercial conveyancing solicitors in Hengoed will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Hengoed. The report sets out 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 Hengoed.
For each commercial conveyancing transaction in Hengoed it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Hengoed commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Hengoed.
What tools are available to identify a Hengoed law firm on the Yorkshire Building Society conveyancing panel? I have wheels and am happy to travel upto 20miles to meet the solicitor.
Feel free to make use of the tool on this website. Please select a bank and your location and you will see a number of Hengoed conveyancing lawyers based on proximity. We have listed some Hengoed conveyancing firms at the bottom of this page and you can call them to see whether they are on the Yorkshire Building Society approved list
What advice can you give us when it comes to choosing a Hengoed conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Hengoed conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Hengoed conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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Can they put you in touch with clients in Hengoed who can give a testimonial? If the firm is not ALEP accredited then why not?
I invested in buying a 1st floor flat in Hengoed, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Hengoed with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ceases on 21st October 2088
With only 63 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information 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 want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.