I am not in a position to travel far from Porthmadog. What is the rationale as to why all Porthmadog conveyancing practitioners are not on all lender panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or solicitor’s standpoint, the the contrary view is that mortgage companies are increasingly anxious and consider it imperative to defend themselves against mortgage fraud. As a result of this concern lenders are limiting their conveyancing panel to a size that they are happy to control.
I purchased a freehold property in Porthmadog yet pay rent, why is this and what is this?
It is rare for properties in Porthmadog and has limited impact for conveyancing in Porthmadog but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Is it the case that all Porthmadog CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
Some major banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We are getting the release of further funds on our mortgage from Kent Reliance as we wish to carry out a loft conversion to our house in Porthmadog. Are we obliged to choose a local Porthmadog solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I had an offer accepted on a house in Porthmadog on 5/5/2022, valuation was booked 2 days later, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Are Aldermore entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
I note that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in Porthmadog? or Apparently there is a law dating back centuries that means some owners of property residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this appropriate for conveyancing in Porthmadog?
Unless a previous acquisition of the property took place post 12 October 2013 you can take it that lawyers delivering conveyancing in Porthmadog to remain recommending a chancel search and or chancel repair liability policy.
I am looking to sell my home. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Porthmadog if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Porthmadog. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I am an executor of my recently deceased aunt’s Will, with a property in Porthmadog which is to be sold. The property is unregistered at HMLR and I'm told that some buyers solicitors will insist that it is in place before they will proceed. What's the procedure for this?
In the situation that you have set out it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.