Completed the sale of my flat in Llangefni last August yet the purchaser is telephoning me to moan that their conveyancer needs to hear from mine. What should my lawyer have done following completion?
Following your sale your solicitor is obliged to deliver the transfer deeds and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer should also confirm that the legal charge in favour of the lender has been paid off to the purchasers conveyancers. There are no post completion requirements specific conveyancing in Llangefni.
Do the Building Society Association intend to launch a search tool with a view to to identify firms on the Coventry BS conveyancing panel for instance in Llangefni?
Lexsure has not been advised of any intention on the part of the BSA to promote such a search facility.
Should our solicitor be raising enquiries regarding flooding during the conveyancing in Llangefni.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Llangefni. There are those who purchase a house in Llangefni, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous searches that can be undertaken by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Llangefni. The standard information supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out whether the premises has historically flooded. If flooding has previously occurred which is not revealed by the owner, then a purchaser could issue a legal claim for losses as a result of such an inaccurate answer. A purchaser’s conveyancers may also commission an enviro report. This should indicate whether there is any known flood risk. If so, more detailed investigations should be made.
five months have gone by following my purchase conveyancing in Llangefni completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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 premises 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've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Llangefni is the location of the property. Is there any guidance you can give?
Flying freeholds in Llangefni are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Llangefni you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llangefni may determine 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 residence.
My nephew is just in the process of moving home, he had his mortgage in principle. When the seller agreed the offer on the apartment we contacted the mortgage company to go forward with his. I was shocked to discover that mortgage companies do not accept all conveyancing practitioner, they have to be on a list, is this right?
Mortgage Companies tend to imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Llangefni lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.