Please could you recommend a National Westminster Bank sanctioned Penrhyndeudraeth conveyancing firm that can complete within two weeks? Would it be better to use a high street Penrhyndeudraeth solicitor or an internet comparison site?
We can recommend some very good Penrhyndeudraeth conveyancing firms. Another option is to visit the high street in Penrhyndeudraeth. Go in to two or three firms and ask to speak with a conveyancing solicitor for a quote. Discuss your time frames together with the reasons and ask for an assurance on your deadline. Choose the one that appears most efficient.
I am the only recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Penrhyndeudraeth. The Penrhyndeudraeth property was put into my name in May. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in May. Do I have to wait half a year to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view mortgage companies take of it, depend on the bank as this clause is chiefly there to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Penrhyndeudraeth 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
Completion of my purchase has taken place for my property in Penrhyndeudraeth. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Penrhyndeudraeth?
Its becoming the norm that commercial conveyancing solicitors in Penrhyndeudraeth will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Penrhyndeudraeth. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Penrhyndeudraeth.
For every commercial conveyancing transaction in Penrhyndeudraeth it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Penrhyndeudraeth commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Penrhyndeudraeth.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one near me in Penrhyndeudraeth I like with open areas and station in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Penrhyndeudraeth in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Should I be concerned by estate agents that I am dealing with are recommending a factory type conveyancing firm rather than a local Penrhyndeudraeth conveyancing practice?
As with many service providers, often referrals from relatives can be very helpful. Yet there are numerous parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks might all put forward solicitors to instruct. On occasion these conveyancers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the discretion to select your preferred lawyer. You need to be aware that the majority of lenders specify a panel list of solicitors you have to use for the mortgage aspect of your home move.
My wife and I purchased a leasehold house in Penrhyndeudraeth. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Penrhyndeudraeth who previously acted has now retired. Any advice?
The first thing you should do is 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. You do not need to instruct a Penrhyndeudraeth conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground floor flat in Penrhyndeudraeth, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Penrhyndeudraeth with a long lease are worth £190,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2086
With only 61 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.