I am one month into the sale of my house in Rhiwbina and the EA has just e-mailed to say that the purchasers are changing their property lawyer. The reason given is that the bank will only work with solicitors on their conveyancing panel. On what basis would a major mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Rhiwbina ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders attribute this action to a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
Me and my partner are soon to exchange on the purchase of a property in Rhiwbina but as a consequence of wreckage from the recent storms I have was able negotiate compensation from the seller of £3k taking the form of a deduction in the price. This was going to be dealt with as part of a side agreement but Aldermore are not allowing this. Should they have been approached?
The lawyer being on a Aldermore conveyancing panel is duty bound to disclose to Aldermore of any variations to the purchase price. If you were to refuse your solicitor to notify the price change to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancing practitioner for your conveyancing in Rhiwbina.
I have been advised by my conveyancer that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Rhiwbina?
The right level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
I am currently in the process of buying my council flat in Rhiwbina. I have a mortgage agreed with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I am selling my apartment. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being problematic. The Rhiwbina solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Me and my brother purchased a renovated Edwardian property in Rhiwbina. Conveyancing lawyer represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rhiwbina and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing practitioner who conducted the purchase.
I decided to have a survey done on a house in Rhiwbina in advance of retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some lenders will refuse to issue a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rhiwbina. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rhiwbina to see if the conveyancing costs will increase in light of this.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Rhiwbina. I now want to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the landlord. For most situations an enquiry agent should be useful to carry out a search and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Rhiwbina.
I invested in buying a basement flat in Rhiwbina, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Rhiwbina with a long lease are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2099
With just 77 years left to run we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. 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. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.