I plan on purchasing an apartment in Llanberis. My property lawyer is not listed on the lender approved panel. Is it possible for me to retain my Llanberis conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You have a couple of alternatives available to you here
- Proceed with your existing Llanberis property lawyer but your bank will undoubtedly appoint a lawyer on their approved panel. The net result is additional cost and likely frustration.
- Choose a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your solicitor to attempt to join the lender panel
Some advice if I may. My Llanberis lawyer is informing me me that he is legally obliged toorder Llanberis conveyancing searches asthe firm are on the Nat Westapproved lawyer panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Llanberis conveyancing searches.
My uncle passed away six months ago and as sole heir and executor I was left the property in Llanberis. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Nationwide will require that you use a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
I have todaydiscovered that Action Conveyancing have closed. They carried out my conveyancing in Llanberis for a purchase of a leasehold flat 10 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Llanberis conveyancing specialists.
I am purchasing my first flat in Llanberis benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The estate agent advised me not to tell my conveyancer about this side-deal as it may impact my mortgage with Yorkshire Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Why do Llanberis conveyancing fees differ for leasehold and freehold properties?
If acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control