I am selling my home in Rhyl and the EA has just e-mailed to warn that the purchasers are switching solicitor. The excuse is that the bank will only deal with solicitors on their approved list. On what basis would a leading mortgage company only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Rhyl ?
Banks 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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
I own a freehold premises in Rhyl but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Rhyl and has limited impact for conveyancing in Rhyl 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
is it true that all Rhyl solicitor firms on the Skipton conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the SRA. Many lenders do permit licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
We previously chose conveyancers located in Rhyl on the UBS solicitor panel. They are now charging me an additional amount for handling the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. The fee is not dictated by UBS but by your Rhyl conveyancer. Some firms on the UBS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Rhyl lawyer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
We are purchasing a property and the lawyer has mentioned Chancel Repair for which the property could be liable as it falls into the area of such a church. She has recommended insurance. Is this really appropriate for conveyancing in Rhyl
Unless a prior acquisition of the premises took place post 12 October 2013 you may take it that conveyancing practitioners handling conveyancing in Rhyl to continue to suggest a chancel search and or chancel repair liability insurance.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Rhyl I like with amenity areas and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Rhyl in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
As co-executor for the estate of my uncle I am selling a property in Cardiff but live in Rhyl. My lawyer (based 200 miles from meneeds me to execute a stat dec prior to completion. Can you recommend a conveyancing lawyer in Rhyl who can witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Rhyl