My husband and I intend to purchase a 2 bedroom apartment in Mancot with a homeloan from National Westminster Bank.We like our Mancot conveyancing solicitor but National Westminster Bank says he's not listed on their "panel". It seems we have no choice but to instruct a National Westminster Bank panel lawyer or keep our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that National Westminster Bank use our lawyer?
No, not really. The home loan offered to you contains various provisions, a common one being that solicitors will be on the National Westminster Bank conveyancing panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Mancot?
There are many recorded licenced Conveyancers in Mancot and Solicitor partnerships in Mancot offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am buying a property in Mancot. One unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Yorkshire BS your lawyer must follow the conveyancing instructions contained in Part 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Yorkshire BS where a lease does not meet these specifications. The provisions relate to the installation of panels on properties nationwide and is not limited to Mancot.
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being problematic. The Mancot solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I require expedited conveyancing in Mancot as I am faced with a deadline to complete within one month. Fortunately I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at free not to have searches conducted although no lawyer would advise that you don't. Drawing on our experience of conveyancing in Mancot the following are examples of what can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I need to instruct a conveyancing solicitor for sale conveyancing in Mancot. I happened to land on a web site which looks to be the ideal offering If it is possible to get all this stuff completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a long established estate agent office in Mancot where we have witnessed a number of flat sales derailed as a result of short leases. I have been given conflicting advice from local Mancot conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a leasehold flat in Mancot, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Mancot with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2078
With 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Why do I have to supply my conveyancer with various items of ID before I can commence with selling or buying a property in Mancot?
Mancot solicitors are obliged by the Law Society, SRA, HMLR and current AML Regulations to certify that the have verified the identity of their clients. It will also be a condition of your lender where you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and date of birth.