How up to date is your database of Pwllheli solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Pwllheli conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
Can you clarify what the consequences are if my solicitor is expelled from the Virgin Money Solicitor panel ahead of completing my conveyancing in Pwllheli?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are purchasing a property and the solicitor has referenced Chancel Repair for which the house may be obligated to pay because it falls into the area of such a church. He has mentioned insurance. Is this strictly necessary for conveyancing in Pwllheli
Unless a previous purchase of the premises took place post 12 October 2013 you may assume that solicitors conducting conveyancing in Pwllheli to remain recommending a chancel search and or insurance against a claim.
I used Wolstenholmes a few years ago for my conveyancing in Pwllheli. Now, I need the documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Pwllheli of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £195,000 and identified one near me in Pwllheli I like with open areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Pwllheli for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years may be an issue. 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 a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Last March I purchased a leasehold flat in Pwllheli. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Pwllheli, conveyancing was carried out 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Pwllheli with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2094
With only 69 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.