Our Lampeter conveyancer has uncovered an inconsistency between the information in the home valuation survey and what is in the conveyancing documents. My lawyer has advised that he must ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
A friend advised me that in buying a property in Lampeter there could be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
There are a number of properties in Lampeter which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Lampeter should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I currently have a mortgage with Barclays for my property in Lampeter. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Barclays must be informed of your intention in advance of letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel solicitor.
Intending to buy a apartment in Lampeter. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lampeter property lawyer is on the Yorkshire BS conveyancing panel.
We are downsizing from our property in Lampeter and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing firm rather than a conveyancing solicitor in Lampeter. We have lived in Lampeter for many years we know that this is a non issue. Should we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I used Arc property Solicitors a few years ago for my conveyancing in Lampeter. Now, I need the documents however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lampeter of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Lampeter is where the house is located. What do you suggest?
Flying freeholds in Lampeter are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lampeter you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lampeter may ascertain 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 premises.
Estate agents have just been given the go-ahead to market my 2 bed flat in Lampeter. Conveyancing is yet to be initiated, but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 1 bedroom flat in Lampeter, conveyancing was carried out in 2008. Can you work out an approximate cost of a lease extension? Equivalent properties in Lampeter with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease ends on 21st October 2102
You have 78 years unexpired the likely cost is going to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.