I am hoping to receive a mortgage offer from Lloyds. My intention is to retain the legal services of a Licensed Conveyancer in Mold. Does the Lloyds Solicitor panel include Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We're in Mold, FTBs buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Will our lawyer be asking questions regarding flooding during the conveyancing in Mold.
Flooding is a growing risk for conveyancers carrying out conveyancing in Mold. Some people will buy a property in Mold, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Mold. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the vendor to discover if the premises has ever been flooded. If the premises has been flooded in past and is not revealed by the owner, then a buyer could commence a claim for damages as a result of such an incorrect response. The purchaser’s lawyers may also order an environmental report. This should indicate if there is any known flood risk. If so, further investigations will need to be carried out.
It has been 4 months following my purchase conveyancing in Mold completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 am on look out for some leasehold conveyancing in Mold. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Mold - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Mold Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
The best form of lease structure is if the freehold title is in the ownership of the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent retained by the leaseholders. If a Mold lease has fewer than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are content with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have owned the property for a couple of years in order to be legally able to exercise a lease extension. Best to be warned if redecorating or some other major work is due shortly to be shared by the leasehold owners and could well dramatically increase the the maintenance fees or require a one time invoice.
Is planning consent necessary to change a single dwelling into a couple of appartments in Mold? This has occurred to a house adjacent to my house in Mold and was unaware of it happening until it was done.
Planning Permission yes. Building Reg Approval yes.