We are nearing an exchange on a flat in Llanidloes and my mum and dad have transferred the 10% deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancer is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I am planning to acquire a property and require a conveyancing solicitor in Llanidloes who is on the Norwich and Peterborough Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Norwich and Peterborough Building Society in certain locations such as Llanidloes. We dont recommend any particular firm.
Should our solicitor be making enquiries concerning flooding during the conveyancing in Llanidloes.
The risk of flooding is if increasing concern for lawyers dealing with homes in Llanidloes. Some people will purchase a house in Llanidloes, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Llanidloes. The conventional set of completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to discover if the premises has historically flooded. If the residence has been flooded in past and is not notified by the owner, then a buyer could commence a claim for damages as a result of such an incorrect answer. The buyer’s solicitors should also conduct an enviro search. This will higlight if there is any known flood risk. If so, additional investigations will need to be initiated.
It has been 2 months following my purchase conveyancing in Llanidloes completed. I have checked the Land Registry site which shows that I paid £175,000 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 property 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 Llanidloes. 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.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Llanidloes
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Back In 2001, I bought a leasehold house in Llanidloes. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Llanidloes who previously acted has now retired. Do I pay?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Llanidloes conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1st floor flat in Llanidloes, conveyancing having been completed July 2005. Can you work out an approximate cost of a lease extension? Similar flats in Llanidloes with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2081
With only 55 years remaining on your lease we estimate the price of your lease extension to be between £31,400 and £36,200 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.