My husband and I are looking to purchase a home in Llandysul and have appointed a Llandysul conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Bank of Ireland have this evening contacted us to advise us that there is now an issue as our Llandysul solicitor is not on their conveyancing panel. Please explain?
Where you are buying a property requiring a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. 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 Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Llandysul lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I purchased a freehold residence in Llandysul but nevertheless charged rent, why is this and what is this?
It is rare for properties in Llandysul and has limited impact for conveyancing in Llandysul but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Is it correct that all Llandysul CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing list of approved firms?
A selection of banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
Is there a list of Santander panel solicitors in Llandysul on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings visible over the internet. If you are looking for a Llandysul conveyancer on the Santander please use our tool.
I am expecting a AIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Llandysul solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Llandysul solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
five months have elapsed following my purchase conveyancing in Llandysul completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.
Just had an offer accepted on a new build flat in Llandysul. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Llandysul
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
How does one remove a deceased person's details from the title deeds for a house in Llandysul?
Where a Llandysul property is co-owned and one of the owners dies, the name will not immediately be removed from the title deeds. It is not necessary to remove their name as when it comes to a disposal your lawyer would just need to supply proof as to the reason the co proprietor is missing from the conveyance, such as the probate documents.
With a view to making things more straight forward for the sale of the property you may apply to have the deceased name erased from the title by submitting an application to HM Land Registry with evidence of the death. There is no land registry fee payable.