We are buying a 1 bedroom apartment in Penmaenmawr with a mortgage. We would like to retain our Penmaenmawr lawyer, but the lender says she’s not on their "panel". It appears that we have no option but to appoint one of the bank panel solicitors or continue with our Penmaenmawr solicitor and pay for one of their panel lawyers to act for them. We regard this is inequitable; are we not able to require that the lender use our Penmaenmawr conveyancer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Penmaenmawr conveyancing lawyer to apply to be on the conveyancing panel.
I happen to be the sole recipient of my late mum's will with all property in now in my sole name, including the house in Penmaenmawr. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the house in September. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Some mortgage companies would take a sensible view as this obligation is primarily there to identify the purchase and immediately sell or the flipping of properties.
My partner and I are in the throws of looking at apartments in Penmaenmawr and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Santander.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are obtaining a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Penmaenmawr property lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
What makes your site different to other online quote calculators when it comes to conveyancing in Penmaenmawr?
At this site receive a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Penmaenmawr. Unlike many estate agents and brokerage sites we do not have referral arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the most commission, as opposed to the best value conveyancing in Penmaenmawr
I need to instruct a conveyancing solicitor in Penmaenmawr for my home move. Is there any facility to see a firm’s complaints history with the profession’s regulator?
One may search for documented Solicitor Regulator Association (SRA) decisions arising from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Penmaenmawr. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Penmaenmawr are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Penmaenmawr in which case you should be looking for a Penmaenmawr conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I acquired a basement flat in Penmaenmawr, conveyancing having been completed in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Penmaenmawr with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2092
With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus legals.
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 comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
What can I do to establish who is the owner of a house in Penmaenmawr?
On the basis that the premises is registered with HM Land Registry, and you have enough details of the location of the property, you will be able to view results from the the Land Registry of the registered owner for a for less than a fiver.