I plan on acquiring a flat in Ledbury. My Conveyancer is not on the mortgage company solicitor list. Can I still retain my Ledbury conveyancing solicitor even though they are excluded from the lender panel?
One must have a conveyancer to deal with the formalities if you need a loan to buy your home. They will conduct all the essential investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is in order. One could instruct a Ledbury conveyancer of your choosing. However, where the solicitor selected is not a member of the bank approved list further charges will arise as separate legal representation will be required by them. Lender panel applications may be submitted, so if your conveyancer has not previously applied for membership they should take the opportunity to apply.
What happens if my solicitor is expelled from the Principality Conveyancing panel ahead of completing my conveyancing in Ledbury?
First, this is a very rare occurrence. 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.
It has been three months since my purchase conveyancing in Ledbury took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm converting the mortgage on my primary house to a BTL loan with Barnsley Building Society and intend to use the remaining equity as a down payment on further property. The location we are interested in is Ledbury. Will your solicitors be able to act for both sets of banks and link together the conveyances?
Make use of our search tool on this page to check that the conveyancers are on the appropriate lender panels. Assuming that they are the solicitor will be able to connect the two transactions but you should have a chat with you solicitor and communicate your expectations and needs.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Ledbury. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Ledbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Ledbury so you should seriously consider looking for a Ledbury conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I purchased a leasehold flat in Ledbury, conveyancing was carried out in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Ledbury with an extended lease are worth £265,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2099
With only 75 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
I see that you have a search directory identifying solicitors on the mortgage company conveyancing panel. Do Ledbury conveyancing companies pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Ledbury.