Is the fact that my conveyancer in Rhosllanerchrugog is not on my lender's conveyancing panel that there is a problem with the standard of his conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Rhosllanerchrugog conveyancing firm and enquire why they are no longer on the approved list for your bank.
We are buying a new build flat in Rhosllanerchrugog and my lawyer is informing me that she is duty bound to the bank to disclose incentives from the developer. I am on a tight deadline to exchange and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can I be sure that the Rhosllanerchrugog conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Rhosllanerchrugog seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor handling your conveyancing.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Rhosllanerchrugog 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
Santander have agreed my mortgage in principle, my bid on a property in Rhosllanerchrugog has been accepted, what happens next?
Your property agent will wish to be informed of your property lawyer's details (make sure the conveyancers are on the lender’s approved list). Contact Santander or your financial adviser and finalise any relevant paperwork. Santander will instruct a valuer who will get in contact with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Santander will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Rhosllanerchrugog.
I have been on the look out for a ground for flat up to £305k and found one close by in Rhosllanerchrugog I like with open areas and station nearby, the downside is that it only has 52 years on the lease. There is not much else in Rhosllanerchrugog in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am 17 days into a leasehold purchase having been recommend to conveyancers by the high street agent to perform conveyancing in Rhosllanerchrugog. We are not happy. Could you you assist me in finding new solicitors?
They would have to be really poor to suggest changing them. Has the mortgage offer been generated? If so you need to advise them of the new solicitor and ensure the mortgage documents are re-issued. Your conveyancer needs to be on the mortgage company approved list to avoid supplemental fees and frustration. So that should be your starting point. Our find a solicitor tool should assist you in finding a bank approved solicitor for your conveyancing in Rhosllanerchrugog
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Rhosllanerchrugog. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Rhosllanerchrugog are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Rhosllanerchrugog in which case you should be looking for a Rhosllanerchrugog conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
I bought a split level flat in Rhosllanerchrugog, conveyancing formalities finalised July 2010. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Rhosllanerchrugog with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2087
With just 63 years left to run the likely cost is going to span between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. 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 based on this information without first getting professional advice.